Earlier today Kari Timm moderated a panel on cyber risk and insurance for law firms and other professional firms during the 2013 PLUS Professional Risk Symposium. To see a short video discussion on cyber risks for professional services firms from the 2013 PLUS Professional Risk Symposium please visit the PLUS Blog (http://plusblog.org/2013/04/10/cyber-risk-and-professional-firms/).
In today’s challenging economy, it is hard to turn away new business, whether from a client who provides a law firm with steady work, or a broker who contracts for investment services or a health care organization that contracts with a nursing registry. But what happens when the new client demands that as part of… Continue Reading
The Ponemon Institute and Symantec Corporation have released the seventh annual U.S. Cost of Data Breach along with data breach studies for the United Kingdom, Germany, France and Italy (Australia and India aren’t yet posted to the Symantec site). Here are some of the findings (please note that these are averages and each country had varying… Continue Reading
UPDATE (November 15, 2011): On October 9, 2011, California Governor Edmund G. Brown, Jr. signed Assembly Bill 1219, exempting gas stations from the Song-Beverly/Pineda prohibition on collecting zip codes in certain instances. The new law took effect immediately. As we previously reported, Assembly Bill 1219 was initially intended to counteract the impact of the Pineda… Continue Reading
Despite the spate of high-profile data breaches over the past six months, a recent study by Advisen and Zurich suggests that companies are still reluctant to acknowledge and/or address the significant risk posed by cyber and privacy breaches — particularly smaller companies. This past month, Advisen issued the Zurich-sponsored study A New Era In Information… Continue Reading
Over the past few years, cyber risks slowly have become more of an issue for C-suite executives and corporate boards. However, new guidelines issued by the SEC requiring that companies disclose such risks and relevant insurance coverage will likely push cyber security and insurance onto the C-suite agenda quicker than ever. Acknowledging that cyber attacks are becoming… Continue Reading
A lawsuit filed in California alleges that Professional Business Bank of Pasadena is liable for $465,000 stolen from a business account by hackers. (PDF) Village View Escrow alleges that during a 24-hour period in March, 2010, the bank permitted 17 unauthorized wire transfers of funds totaling $465,567 from Village View’s account. The complaint filed in the Superior… Continue Reading
The U.S. District Court for the Southern District of New York has found that the plaintiff in the Interclick history sniffing class action cannot establish damages under the Computer Fraud & Abuse Act (“CFAA”) and has dismissed plaintiff’s federal claims. However, the court is allowing plaintiff’s deceptive practices and trespass claims to proceed. Late last year,… Continue Reading