Cybersecurity & Data Privacy and Insurance Recovery
Corporate TIPS & Coverage Counselor: Recent Cyberattacks Complicate Cyber Insurance Industry and Coverage
By Jarman J. Smith on September 2, 2021
The cyber insurance industry is drastically evolving amid a recent wave of cyberattacks against businesses, organizations and agencies throughout the world. Although the increase in frequency and negative impact of cyberattacks has inflated the demand for cyber insurance policies, several factors may make it more difficult for parties to obtain and maintain such coverage....
Corporate TIPS: Ransomware Attack - Is Losing Data Considered a Physical Loss Under Your Insurance Policy?
By Joseph K. Cole on February 21, 2020
A ransomware attack can cause headaches in multiple areas. First, an attack can result in loss of data and damage to computer servers and systems. Second, when there is a loss, a company must contend with insurance and whether the loss is covered under any of the company's policies. Being prepared ahead of time both on the cybersecurity front and the insurance front can help avoid or minimize the pain of a ransomware attack....