News & Analysis as of

Data Breach D&O Insurance Cybersecurity

A&O Shearman

Chief Information Security Officers and cyber whistleblowing: considerations for PE firms

A&O Shearman on

Managing these risks at a single company should be straightforward.  Executives and CISOs may be personally held accountable for cyber failings, negligence, breaches, and inadequate disclosure around cyber vulnerabilities and...more

Hinshaw & Culbertson - Insights for Insurers

[White Paper] United States Insurance Trends and Decisions 2023

As 2024 rapidly approaches, we look back at some of the key decisions, trends, and developments impacting the U.S. insurance industry in 2023 and look ahead at some trends and cases to watch in 2024. Insurers continue to...more

Amundsen Davis LLC

Is Nothing Sacred? Cyberattacks May Impact Director and Officer Fiduciary Duties

Amundsen Davis LLC on

MGM Resorts is the latest victim of a cyberattack occurring on September 10th, which has set back the gambling and leisure giant substantially, both in terms of business function and income. MGM is not alone. Household names...more

Woodruff Sawyer

Looking Ahead to 2022 Cyber Insurance Expectations For The Coming Year

Woodruff Sawyer on

1.0 CYBER MARKET UPDATE - 1.1 US Market Update - To call 2021 anything other than a sea change in the cyber insurance world would be an understatement. Indeed, nearly all cyber insurance renewals saw increases in...more

Cooley LLP

Blog: D&O Coverage for Cyber and Privacy Related Exposure

Cooley LLP on

It goes without saying that cybersecurity is a top D&O liability concern for organizations today. According to Willis Towers Watson’s 2018 Management Liability (Directors and Officers) U.S. Survey, respondents cited cyber...more

White and Williams LLP

Marriott’s Starwood Data Breach Could Expose 500 Million Customers

White and Williams LLP on

On November 30, 2018 Marriott International announced that hackers gained “unauthorized access” to the Starwood brand reservation database, potentially compromising the accounts of approximately 500 million guests. According...more

Blank Rome LLP

Seeking Insurance Coverage for Data Breach Claims? A Recent Case Confirms that Certain D&O Policies Potentially Provide Coverage

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Businesses are increasingly purchasing dedicated cyber insurance policies to address their cyber and data security exposures. To date, however, many of the judicial decisions addressing insurance for cyber exposures have done...more

White and Williams LLP

Breaching the D&O Firewall: The Rise of Cybersecurity Regulations for Businesses and the Future Effects on D&O Insurance

For many D&O insurers, the risk of exposure posed by cybersecurity incidents involving their insureds has been unclear at best. Cybersecurity incidents, and the corresponding shareholder claims that follow, pose unique and...more

K&L Gates LLP

D&O Insurance for Cyber Liabilities: Increased Cyber Exposure Should Cause Directors & Officers to Take Another Look at Their D&O...

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Scarcely a day goes by without news headlines reporting yet another data breach or cyber crime incident, which can have devastating consequences for any business in terms of both reputation and balance sheet. A cyber...more

King & Spalding

Do Your Cyber and D&O Policies Cover Emerging Exposures Arising Out Of The New NYDFS Cybersecurity Regulations?

King & Spalding on

March 1, 2018 will mark one year since the effective date of the New York Department of Financial Services’ (“NYDFS”) cybersecurity regulations, which may signal a trend towards stricter industry-specific regulatory oversight...more

Locke Lord LLP

Equifax Lax About Hacks, Says Shareholder Lawsuit

Locke Lord LLP on

In early September, Equifax disclosed a now well-known data breach that ultimately affected a reported 146 million customers in the United States. The breach allegedly occurred in May 2017, as a result of an online security...more

Pillsbury Winthrop Shaw Pittman LLP

Cyberattacks Are the New Norm - How to respond and get insurance recovery for government investigations.

Takeaways - Companies that suffer cyberattacks can expect not sympathy but scrutiny from legal authorities. - D&O insurance can cover not only litigation but also investigation costs. - Strategic negotiation of...more

Goodwin

2016: The Year of Cyber Insurance?

Goodwin on

It has been said that there are two types of companies in the world – those that have been hacked, and those that do not yet know they have been hacked. While perhaps an overstatement, it seems that every day, another company...more

Nossaman LLP

Purchasing Cyber Insurance? Important Considerations from the Recent Nossaman/ UCI Cyber Symposium

Nossaman LLP on

On October 12, 2015, Nossaman and UC Irvine hosted a Cyber Symposium at the City Club in Los Angeles. The event included four panels of Nossaman lawyers, UCI professors, and private professionals who are experts in the areas...more

Orrick, Herrington & Sutcliffe LLP

Policyholder Insider Quarterly

Five Lessons Health Care Companies Should Learn From Cyberattacks - The American health care industry is under attack by sophisticated hackers seeking access to electronic medical records. Since January, three health...more

King & Spalding

How to Protect Your Company’s Bottom Line Against Data Breach Losses Through Insurance

King & Spalding on

In the wake of what seems to be daily announcements of new data security breaches and increased regulatory oversight over company information security and privacy practices, companies are looking for ways to minimize risks...more

Carlton Fields

Cybersecurity Coverage Litigation: Learning to Survive After the Second Wave Hits

Carlton Fields on

It’s a familiar pattern. First, new risks inspire legislation and regulations that impose new penalties. Next, insurers and policyholders fight over whether the new liabilities are covered under traditional liability...more

Perkins Coie

Trends To Watch In Cyber Liability and Reputational Insurance

Perkins Coie on

With major data breaches again making news, it is important for corporate policyholders to keep abreast of insurance developments in this emerging and fast-moving area. In this update, we provide some thoughts on cyber...more

JAMS

Insurance Coverage for Data Breach Claims

JAMS on

Recent examples of data breaches resulting in invasion of privacy lawsuits abound. Target and other retailers, financial services companies and other businesses have had their internal data systems breached and consumers’...more

Mintz - Privacy & Cybersecurity Viewpoints

Cyber Risks for the Boardroom Part 5: Coverage for Privacy Violations

The last installment in our series – “Coverage for Privacy Violations” - Part 5 of 5: Coverage For Privacy Violations: As we previously noted, recent SEC actions on the topic of cybersecurity indicates...more

Mintz - Privacy & Cybersecurity Viewpoints

Cyber Risks for the Boardroom Part 2: Why Corporate Directors Should be Concerned About Data Security Breaches

All this week, we are featuring a series “Cyber Risks – Director Liability and Potential Gaps in D&O Coverage” Part 2 of 5: Why Directors Should Be Concerned...more

Mintz - Privacy & Cybersecurity Viewpoints

And On The 12th Day Of Privacy, Something For Directors…..Mind The Gap!

On our last “day of Privacy”, we have a little extra (perhaps a lump of coal….) post: in 2014, cyber risk has been elevated to a board issue – read on and forward to your favorite company director! As we have discussed...more

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