The September 25, 2015 American Economy Ins. Co. v. Aspen Way Enter. decision provides another example of new technology causing problems under traditional insurance policies. The insured in this case, Aspen Way, is a franchise of Aaron’s Inc., which operates “rent-to-own”… Continue Reading →
While large cyber attacks and data breaches may get the headlines, a recent study prepared by the Ponemon Institute and Hewlett-Packard and a recent criminal conviction of a Los Angeles Times reporter that disclosed corporate passwords on a hacker website serve… Continue Reading →
As the East Coast closely watches meteorologists’ models and predictions to prepare for Hurricane Joaquin, it may be a good time to consider the role of using statistics and models to predict the next data breach. A recent study entitled… Continue Reading →
On September 15, 2015, Bitpay, Inc. filed a lawsuit against its insurer, Massachusetts Bay Insurance Company, related to a hack at the company that resulted in an unauthorized transfer of bitcoin valued at more than $1.8 million. In its Complaint… Continue Reading →
The number and scale of cyber attacks on U.S. corporations has outpaced the development of regulations and methods to enforce such regulations. To date, it has been relatively unclear whether cybersecurity would be governed by the Federal Trade Commission (FTC) Act,… Continue Reading →
Hackers have shown themselves to be resourceful in gathering information that allows them to commit their crimes. We have seen hackers use employees and other “out of wallet” information to gain access to data. Recent developments in the Target litigation provides a… Continue Reading →
Purchasers of cars manufactured by Fiat Chrysler Automobiles (FCA) have filed a purported class action in the U.S. District Court for the Southern District of Illinois arising out of their cars’ vulnerability to hackers taking control of their cars’ functions,… Continue Reading →
On July 1, 2015, Home Depot filed a motion to dismiss the “Financial Institution Plaintiffs’” class action lawsuit filed in the District Court for the Northern District of Georgia. The class action is based on the breach suffered by Home… Continue Reading →
On June 16, 2015, the New York Times reported on what is being referred to as “the first known case of corporate espionage” involving hacking and cybersecurity. The article states that the FBI and Justice Department are investigating allegations that front-office… Continue Reading →
In assessing the risks related to cybersecurity, insurers have closely examined the technology put in place by insureds to safeguard data or other private information. This is not surprising because privacy and data security tends to focus on sophisticated hackers in… Continue Reading →
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