The cyber-insurance world is discussing the ins-and-outs of litigation going on between food manufacturing giant Mondelez International and Zurich over coverage for the ten billion dollar NotPetya cyber attack that crippled several multi-national companies. Zurich has apparently invoked what is colloquially known as the “act of war” exclusion to deny coverage to Modelez under a … Continue Reading
The GDPR, the European Union’s Global Data Protection Regulation (GDPR), took effect on May 25. As my colleagues have written, the regulations apply to many US companies that hold data on EU customers, vendors, or employees. Businesses are still scrambling to comply with the regulation, including getting consent from EU contacts to continue to send marketing … Continue Reading
Cyber-ransom is the talk of the town when it comes to insurance these days, second only to social engineering fraud. A cyber-ransom event typically involves malicious code (malware) being installed on an individual computer or a system, typically through a “phishing” e-mail that contains an innocent-looking link (often to a legitimate site, such as Dropbox) that … Continue Reading
In case you missed this last week, our friends at HFO Investment Real Estate have published an excellent video (posted here with permission) featuring an extensive interview with Vice Presidents Heidi Tapasa and Ted Stark of USI Insurance Services on the subject of cyber liability for apartment owners and managers. You can view the full interview below. Click here … Continue Reading
On April 11, the Fourth Circuit Court of Appeals affirmed the decision of a Virginia federal district court that held that Travelers was required to provide a defense under a general liability insurance policy to Portal Health Care Solutions, LLC, for a class‑action claim of unauthorized release of patient health care information. A hospital had … Continue Reading
