June 13, 2014 Articles

Cyber Risk Coverage Litigation Heats Up as Exposure and the Insurance Market Evolve

Cyber risk is dominating the headlines and has become a mainstay in the world of corporate risk management. It is incumbent on risk managers, general counsel, and chief information/security officers to appreciate the risk and be conversant in the legal landscape and ever-evolving cyber insurance marketplace in order to effectively assess and tailor their insurance program to match the growing threat

by Gregory D. Podolak [1]

You may have heard . . .

•  A phishing email to a heating, ventilation, and air-conditioning contractor caused the Target data breach of 110 million records.
•   A five-year-old successfully hacked Microsoft’s Xbox Live.
•  Two-thirds of the entire Internet has been exposed to an undetected security leak since March 2012 (Heartbleed).

Cyber risk is dominating the headlines and has become a mainstay in the world of corporate risk management. It is incumbent on risk managers, general counsel, and chief information/security officers to appreciate the risk and be conversant in the legal landscape and ever-evolving cyber insurance marketplace in order to effectively assess and tailor their insurance program to match the growing threat.

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