On May 11, 2015, the U.S. District Court of Utah denied an insured’s motion for partial summary judgment in Travelers Property Casualty Company of America et al. v. Federal Recovery Serv.et al. The court found there was no duty to… Continue Reading →
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 →
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 →
The National Association of Insurance Commissioners (NAIC), an organization that provides support and coordinates the efforts of state insurance regulators, will focus on cybersecurity issues at its meeting in Phoenix, Arizona on March 28, 2015 through March 31, 2015. The… Continue Reading →
On March 23, 2015, Marsh and the United Kingdom Government released a Report titled: UK Cyber Security: The Role of Insurance in Managing and Mitigating the Risk. The Marsh Report is stated to be “the result of close working between the… Continue Reading →
A recently published article in the L.A. Times titled “Spending On Cyberattack Insurance Soars As Hacks Become More Common,” takes a look at the evolution of cyberliability insurance over the past couple of years. While the insurance industry tried to justify the… Continue Reading →
We have previously addressed First Commonwealth Bank v. St. Paul Mercury Ins. Co., No. 2:14-cv-00019-MPK (W.D. Pa.), where the insurer denied coverage under a professional liability policy because the insured first reimbursed its customer for amounts lost when a fraudulent wire transfer… Continue Reading →
On January 21, 2015, Travelers Casualty and Surety of America (Travelers) sued Ignition Studio Inc. (Ignition) based on professional negligence and breach of contract claims in the District Court for the Northern District of Illinois. Travelers filed the action based… Continue Reading →
Terms like “skyrockets,” “off the charts” and “hockey stick analogy” are being used by those in the cyberliability insurance trenches to describe the growth of cyber insurance over the past year. This dramatic increase in demand—estimated to be doubling and tripling the… Continue Reading →
At this point, we have been bombarded with many of the details and a lot of speculation related to the November 2014 Sony Pictures hack. In short, hackers stole sensitive information and data including everything from private employee information, emails sent… Continue Reading →
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