Tag Archives: Cyber insurance

Upcoming Seminar: Cybersecurity for Defense Contractors and Manufacturers

Join Taft attorneys Barbara Duncombe and Bill Wagner for a complimentary seminar on the DoD cybersecurity regulations on Oct. 18 at Taft’s Indianapolis office. They will participate in an informal, interactive discussion with Richard Banta and Alex Carroll from Lifeline Data Centers and Josh Griswold and Joe Turek from Chubb concerning recent developments (including cyber breaches), evolving standards of compliance and practical, effective risk mitigation strategies. Click here to register.

Topics will include:

  • Final preparations to ensure compliance with DoD’s
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Cyber Insurance: Travelers Required to Defend Healthcare Records Storage Company From Class Actions

Savvy in-house counsel and business owners termsoften ask are whether the insurers selling cyber policies actually pay claims or whether the policyholders are just buying the right to later sue the insurers for coverage.  The initial wave of cyber insurance litigation involved policyholders trying to obtain coverage for data breaches under their standard commercial general liability policies.  This produced mixed results with some courts finding coverage, while others did not.  The next wave of cyber insurance litigation involved policyholders asserting … Read More

Cyber Attacks: Small/Mid Cap Companies Beware

The marquee breaches that have occurred recently (i.e. Anthem, Home Depot, Morgan Stanley, Target, Linked In, and Sony) have helped U.S. Fortune 1000 companies understand that data security must be taken seriously.  Not only must companies invest in their data security, but they must proactively manage and protect it.  Previously, large corporations generally considered hacking attacks and general security breaches as “Force Majeure” events in that they were both unpredictable and unpreventable.  Therefore, many of the Fortune 1000 purchased cyber … Read More

Cyber Insurance: What Terms and Conditions Should I Consider When Buying?

*This is the fifth post in a five-part series on cyber insurance, culminating in a webinar entitled “Insurance Coverage for Privacy and Data Breaches, Hot Topics and Critical Issues” on Wednesday, April 22, 2015, at 12:00-1:00 p.m. Eastern. 

A common question we often hear CEOs, CFOs, and Directors of businesses and public and private institutions ask is “What terms and conditions should I consider when buying cyber insurance?” We have compiled a list of some of the most important … Read More

Cyber Insurance: How Do I Determine My Coverage Needs?

*This is the fourth post in a five-part series on cyber insurance, culminating in a webinar entitled “Insurance Coverage for Privacy and Data Breaches, Hot Topics and Critical Issues” on Wednesday, April 22, 2015, at 12:00-1:00 p.m. Eastern. 

Common questions we often hear from CEOs, CFOs, and Directors of businesses and public and private institutions are “How do we determine our cyber insurance coverage needs?  In other words, how do we know that we have enough insurance to protect our … Read More

Cyber Insurance: What do Cyber Insurance Policies Cover and Cost?

*This is the third post in a five-part series on cyber insurance, culminating in a webinar entitled “Insurance Coverage for Privacy and Data Breaches, Hot Topics and Critical Issues” on Wednesday, April 22, 2015 at 12:00-1:00 p.m. Eastern. 

Common questions we often hear from CEOs and CFOs are “what do cyber insurance policies cover and how much do they cost?”

Cyber risk insurance policies typically offer both first-party coverage (covering the policyholder’s losses) and third-party coverage (covering defense costs and … Read More

Cyber Insurance: Why Can’t I Just Rely on My Agent for the Best Policy at the Lowest Cost?

*This is the second post in a five-part series on cyber insurance, culminating in a webinar titled “Insurance Coverage for Privacy and Data Breaches, Hot Topics and Critical Issues” on Wednesday, April 22, 2015, at 12:00-1:00 p.m. Eastern.  

When we talk with CEOs and CFOs about buying cyber insurance, we often hear them say, “I’ll just rely on my agent for the best policy at the lowest cost.” While you may have a fantastic and very knowledgeable agent, … Read More

Cyber Insurance: Do I Really Need It?

*This is the first post in a five-part series on cyber insurance, culminating in a webinar entitled “Insurance Coverage for Privacy and Data Breaches: Hot Topics and Critical Issues” on Wednesday, April 22, 2015, at 12:00-1:00 p.m. Eastern. 

One of the most common questions we hear from CEOs, CFOs and Directors of businesses and public and private institutions is “Do I really need cyber insurance?”  Our answer is always an emphatic “Yes,” whether it is a … Read More

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