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Is A Cyber Attack An Act Of War?

 

Cyber coverage remains a hot topic in the insurance world.  The coverage is relatively new and complicated questions of claims handling are still working their way through the court system with often unforeseeable results.  Now, a novel defense is one cyber coverage lawsuit may throw a major wrench in the extent of protection these policies provide.

Insuring Intangible Assets Like Data, Brand, and Intellectual Property

 

When people think of property insurance, they often immediately think of buildings – things like houses, retail stores, or warehouses.  If they continue the thought further, they may think of additional items of property like furniture or inventory.  These items have a very real physical presence, and that physical presence subjects them to potential damage or loss from known hazards like a fire or water damage.  Property insurance exists to protect individuals and companies from that loss.

Court Cases Show That Claims Costs Grow When Handled Poorly

Insurance contracts are contracts of good faith. Usually, this means that both parties to the contract will deal with each other honestly and fairly, fulfilling their obligations under the contract. Occasionally, allegations of bad faith on the part of insurance companies arise. Courts have sometimes struggled with all to handle the full extent of damages in these circumstances.

Why CA 99 48 And MCS-90 Are The Dynamic Duo Trucking Companies Need

Pollution liability can be a major problem for trucking companies. Typical business automobile liability insurance policies exclude coverage for losses caused by the release of pollutants. These policies define pollutants broadly as any irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals and waste. At some point, most trucking companies will transport something that qualifies as a pollutant just given the broadness of the definition. Therefore, the pollution exclusion in the traditional policy can create a major gap between a company’s risk exposures and their insurance coverage.

Law Firms Remain A Smaller, Though Viable, Target For Cyber Criminals

The Dark Overlord hack stands at the intersection of a number of prominent issues in the modern world: terrorism, cyber warfare, confidentiality and privacy. On New Year’s Eve, 2018, a group of hackers calling themselves Dark Overlord stated they had hacked confidential legal files related to the insurance litigation that followed the 9/11 attacks. The hackers demanded a ransom from the law firm from whom the information was stolen. Apparently, the ransom was paid but the law firm breached the terms of the ransom by reporting the breach to law enforcement. Now the hackers have threatened to sell the information online through the dark web.

Municipalities Sue Big Pharma For Opioid Crisis Damages

 

The opioid epidemic, besides its unfathomable human costs, has had large economic costs for businesses and governments who must manage workers compensation costs. Opioid prescriptions in the wake of workplace injuries have been linked to higher workers compensation payouts and longer layoffs before injured employees return to work. Facing the bill for these costs, government, citizens, and private entities have filed a veritable avalanche of lawsuits against pharmaceutical companies for their manufacture and marketing of opioid based painkillers.

FDA Starts Looking At Entire Supply Chain After Latest Romaine Lettuce Recall

In October 2018, the Center for Disease Control and the Food and Drug Administration announced an outbreak of E. coli traced to the consumption of romaine lettuce. The outbreak continued through December. In total, the Center for Disease Control has traced fifty two cases to the produce across fifteen states, leading to nineteen people being hospitalized.

Financial Liability For Trucking Companies Without Adequate Environmental Liability Coverage

Pollution liability for trucking companies can get very complicated. Determining what you may be covered for and what you may not be can cause major headaches while costing your company money. Trucking companies have significant exposures in this area, and the language of the standard commercial automobile liability policy and federal law do not help.

Specific Coverage Still Needed For D&O For Cyber Risks

The cyber market has evolved incredibly in a few short years. It’s been barely more than twenty years since the internet became a ubiquitous presence in the lives of most Americans. As cyberspace has grown, the risks attendant on cyberspace has grown as well. To meet the challenges of combining scope and risk, legislators and courts have had to move quickly to regulate this area and protect individuals from loss. At the same time, insurance companies have had to tailor policies to protect companies from the risks of doing business online.

Marriott's Cyber Breach Announcement Shows How Years Can Pass Without Even Large Businesses Noticing A Hack

It seems not a week goes by these days without news breaking of another massive data breach affecting hundreds of millions of people.  At the end of November 2018, Marriot, the global hotel chain, announced they had been hacked and the personal information of five hundred million preferred customers had been exposed to criminals. What’s worse, Marriott announced the original data breach occurred over four years ago, leaving people unknowingly at risk for identity theft during that time.