January 22, 2018 Articles

Kicking the Tires on a New Cyber Policy: Top Tips and Traps

It takes both expertise and care to spot the traps or coverage gaps that may lurk in any cyber policy form

by John G. Buchanan and Marialuisa S. Gallozzi

A cyber insurance policy is an increasingly essential element in the enterprise risk management toolkit. But a first-time cyber insurance purchaser may be hard put to understand what coverage the insurer is selling and whether that coverage is a proper fit for its own risk profile. With little standardization among cyber policies’ wordings, confusing labels for their covered perils, and minimal interpretive guidance from the case law to date, a cyber insurance buyer trying to evaluate a new proposed policy may hardly know where to focus first.

The following are our nominees for the top 10 issues that prospective cyber insureds should focus on when they review a new cyber policy—or even the renewal of an old one.

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