Privacy Risk Report

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data breach

Insurance Implications of Recent Federal Government Data Breaches

Last week, the Obama Administration announced one of the largest breaches ever of federal employees’ data. This latest breach, involving records of nearly four million current and former government workers, originated in China. There are reports that this breach may have… Continue Reading →

Following 2014’s “Year of the Breach,” 2015 is Shaping Up to Be the “Year of Data Breach Litigation”

Last year, there were a number of high profile breaches—earning 2014 the “Year of the Breach” tag. This year is seeing the fallout, as many of these breaches have resulted in significant litigation. For example, the Home Depot breach in April… Continue Reading →

Death, Taxes and Cybersecurity: New Incident at IRS Illustrates Evolution of Cyber Crime

On May 26, 2015, it was widely reported that over the last four months, criminals accessed information related to at least 100,000 taxpayers. Specifically, the criminals accessed the information through the agency’s “Get Transcript” application that allows taxpayers to obtain information from… Continue Reading →

Connecticut Supreme Court Finds No Coverage Under CGL Policy for Lost Data

There have been more developments in the law related to cyber and data breach claims in the last two weeks than in the last year. First, Sony and Zurich settled their coverage dispute that left the lower court’s decision (which was… Continue Reading →

U.S Supreme Court to Hear Case That May Have Major Implications on Data Breach Cases

On April 27, 2015 the U.S. Supreme Court granted Spokeo, Inc.’s Petition for a Writ of Certiorari appealing an opinion from the U.S. Court of Appeals for the Ninth Circuit. The Ninth Circuit decision held that the Plaintiff, Thomas Robins,… Continue Reading →

Sony and Zurich Settle Data Breach Case Before Appellate Court Can Decide Coverage Issues Under CGL Policy

Early reports indicate that Sony Corp. of America and Zurich American Insurance Company (along with other insurers) have reached settlement terms today in their data breach case involving a hack of the online services for the Sony PlayStation in April 2011. These… Continue Reading →

Put Away The Champagne: Smaller Banks Try to Block the Target/MasterCard Settlement

Lawyers for a portion of the Financial Institution Plaintiffs in the Target class action litigation (including smaller financial institutions Umpqua Bank, Mutual Bank, Village Bank, CSE Federal Credit Union and First Federal Savings of Lorain) filed a motion for preliminary injunction to block… Continue Reading →

It’s Complicated: Target Settlement With Banks Hits a Snag

Last week, Target announced a $19 million settlement with MasterCard, a “Financial Institution Plaintiff,” as a result of the 2013 data breach at its stores. The terms of the settlement agreement are rather complex and call for Target funding “alternative… Continue Reading →

Cybersecurity Issues are Moving Target for Local Governments

Local governments are increasingly joining the list of smaller targets sought out by hackers as they come to the harsh realization that cybersecurity is not an issue that only plagues large retailers and financial institutions. Unfortunately, a number of local and… Continue Reading →

Shareholders May Be Growing “Numb” to Data Breaches at Publicly Traded Companies

In the March 31, 2015 article, “Why Data Breaches Don’t Hurt Stock Prices,” the Harvard Business Journal discusses why stock prices may not be immediately impacted by a data breach at a company. The article discusses the fact that shareholders may be… Continue Reading →

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