Blog posts

When it comes to cyber security and insurance, companies have been vocally concerned over finding themselves losing twice – the victim of both a cyber breach and cyber insurance claim declination. First they experience a security event which results in significant damages, then they discover their insurance policy will not respond. From hidden language, to sub-limits, we explore some of the more significant cases and areas in which carriers are declining coverage (or expected to decline coverage) and how to avoid them.

p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 23.0px Times; color: #454545; -webkit-text-stroke: #454545} span.s1 {font-kerning: none} In order to assist the c-suite, their advisors and counsel, GB&A has deployed "Risk Alerts", a curated collection of well published articles discussing recent rulings and decisions, lawsuits, regulatory alerts, news briefs, resources, and featured readings from the world of GRC (governance, risk and compliance).

In the world of constant cyber intrusions, protecting against theft of digital IP and source code is quickly becoming a top concern for many organizations. Difficult to protect against and near-impossible to insure against, many companies are left having to manage the risk on their own. This means securing against external hackers and internal threats alike (including executives and employees).

Despite all of the large scale hacks and cyber related headlines, cyber security litigation itself remains in its infancy. Case law is sparse, and policy language is slowly beginning to adapt itself to modern risk. In the interim, the c-suite is being confronted with constantly increasing regulatory requirements and new cyber exposures that threaten to test their abilities to remain in compliance – from breach notification laws, to social media related regulation FD violations and more. It goes without saying that the cyber risk environment has changed everything.

Aside from insurance executives themselves, insurance is not a topic that raises excitement among directors and officers. In fact it may feel more like necessary torture. Applications with The same never-ending questions, sprinkled with overly technical sections that require completion by your GC or CSO (often resulting in mysterious disappearance of the application altogether). Hours of legwork that, half the time, may find you at the end of a dead end. However exhaustive, this annual exercise is one that still requires undivided attention and due diligence.

As Written For InsideCounsel

Cyber security has been the talk of the town for quite a while now. Organizations today flooded with statistics and mentions of the importance of proper security measures and cyber liability programs. Some companies understand the risk, other do not. Yes, cyber security is extremely important, as is a well structured cyber insurance policy. But there is often a missing ingredient to that recipe that can be easily overlooked. Crime insurance – specifically important for those seeking social engineering insurance.

As written For NetworkWorld & CIO.com

For a more recent guide to grooming the "professional services exclusion", please see our updated article HERE