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January 23, 2024 Book Review

A Practical Guide to Cyber Insurance for Businesses

Reviewed by Matthew J. Evans

A Practical Guide to Cyber Insurance for Businesses
Edited By Lauren D. Godfrey, Michael Menapace, Toni Scott Reed, and Larry P. Schiffer

Every attorney is impacted by cyber security and data breaches. From the Byzantine requirements of double authentication for email access to identity theft or client data breaches, the legal field is enmeshed in the cyber realm. Each practitioner will field questions from a client at some point that touch on these issues. More importantly, clients are now realizing the need for cyber insurance.

Cyber insurance for businesses is a new must-have. It is a form of insurance coverage providing risk management for cyber security, data privacy, and data breaches. A Practical Guide to Cyber Insurance for Businesses is a necessary guidebook for practitioners delving into the cyber realm and the cyber insurance needs for their clients (or even their law firms).

This book is exactly what it purports to be—a practical guide to navigating cyber insurance. The book is divided into two separate parts. The first eight chapters of the book discuss how cyber insurance was developed and is a primer for how cyber insurance works with other commercial insurance coverage. This part of the book also discusses common portions of cyber insurance for all industries and the basics of what coverage provides.

The second half of the guide focuses on specific industries and the unique needs of those industries. From media companies to the health industry, to financial services, defense industries, and manufacturing companies, the second half of the guide details the needs of those industries and what unique coverages may be needed or available depending on the area of risk.

A Practical Guide to Cyber Insurance for Businesses remains a comprehensive resource for any practitioner assisting a client with cyber insurance needs. This guide gives you the basis to discuss cyber insurance risks and assess a client’s needs. With the second half focus on specific industries, an attorney can determine the specific needs of an industry and use the guide as a starting point in obtaining the appropriate cyber insurance for a client. I recommend this guide for any attorney faced with cyber insurance risks or cyber insurance coverage.

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Reviewed by Matthew J. Evans

Kay|Griffin|Evans, PLLC

Matthew J. Evans is a partner with the firm of Kay|Griffin|Evans, PLLC with offices in Nashville, Tennessee, and Knoxville, Tennessee, practicing insurance defense coverage, bad faith litigation, products liability, and pharmaceutical litigation.