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One Beacon Files DJ: No CGL Coverage for Retailers in Zip Code Disputes

Posted in Coverage, Credit Card Transaction, Damages, Declaratory Judgment Litigation, Insurance

OneBeacon  America Insurance Company filed a DJ against retailers Urban Outfitters and Anthropologie in federal court in Pennsylvania on September 10, 2013.  The retailers have been sued in ”Zip Code Actions” brought by consumers alleging that the stores request zip codes when completing credit card transactions, a practice that allegedly violates consumer protection and privacy laws in the District… Continue Reading

Liberty Mutual Sues Schnuck Markets: Asserts No Coverage for Data Breach under CGL Policy

Posted in Coverage, Declaratory Judgment Litigation, Insurance

Liberty Mutual has sued Schnuck Markets, denying indemnification obligations under a CGL policy for Schnuck’s data breach involving 2.4 million credit and debit cards. In April 2013 Schnuck reported a data breach involving approximately 2.4 million credit and debit cards used at 79 grocery stores that occurred between December 2012 and March 29, 2013.   Since then, 8 lawsuits (including class… Continue Reading

Cyber Risk and Professional Firms

Posted in 2013 Issues, Business Practices, Coverage, Cyber Breach, Cyber Costs, Damages, Data Breach, Insurance

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/).

Kari Timm will Moderate Panel at the 2013 PLUS Professional Risk Symposium

Posted in Coverage, Cyber Breach, Insurance

Walker Wilcox Matousek Partner Kari Timm will moderate a panel on cyber risks and insurance for law firms and other professional firms during the 2013 PLUS Professional Risk Symposium. The session, “The Verdict is In: Cyber Threats a Risk for Professional Firms,” will take place on April 10, 2013 at 10:00. For further information, please… Continue Reading

Privacy Breaches & Insurance: A Year in Review and What Lies Ahead in 2013

Posted in Coverage, Cyber Breach, Insurance, Year in Review

 CYBER AND PRIVACY BREACHES: A YEAR IN REVIEW AND WHAT LIES AHEAD FOR 2013 Join us on December 4, 2012 from 10:00 – 11:00 C.S.T. for “Cyber and Privacy Breaches: A Year in Review and What Lies Ahead for 2013, ” the final 2012 session of our Webinar Series on Cyber and Privacy Breaches and their Insurance… Continue Reading

Behind the Curtain: Just whose risks are being insured?

Posted in Business Practices, Coverage, Cyber Breach, Data Breach, Insurance, Reinsurance

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

“Say Ahhh…Cyber Risks and the Health Care Industry” Webinar Recording Available

Posted in Coverage, Health Records Privacy, Healthcare, HIPPA, Webinar

On November 15, we hosted “Say Ahhh…Cyber Risks and the Health Care Industry,” the second webinar in our Webinar Series on Cyber and Privacy Breaches and their Insurance Impact.  For those of you who could not join us on the 15th, you can access a recording of the webinar, the slides and the post-event Q&A.  Simply… Continue Reading

Study Suggests Larger Companies View Cyber Risks More Seriously

Posted in Business Practices, Corporate Governance/Reporting, Coverage, Cyber Breach, Data Breach, Insurance

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

Say Ahhh…Cyber Risks and the Health Care Industry – Our Webinar Series Continues on November 15

Posted in Coverage, Health Records Privacy, Healthcare, HIPPA, Insurance, Privacy Legislation, Webinar

Join us on November 15, 2011 at 10:00 C.S.T. for “Say Ahhh…Cyber Risks and the Health Care Industry,” the second webinar in our Webinar Series on Cyber and Privacy Breaches and their Insurance Impact Our second webinar on November 15 will focus on Cyber and Privacy Risks and Regulations for the Health Care industry and… Continue Reading

Disclosure of Cyber Risks & Insurance Required by SEC

Posted in Business Practices, Corporate Governance/Reporting, Coverage, Cyber Breach, Insurance, SEC

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

Reminder: Webinar Series on Cyber & Privacy Breaches & Their Insurance Impacts Starts October 4

Posted in Breach Notification Laws, Coverage, Insurance, Privacy, Privacy Legislation

Our webinar series on cyber and privacy breaches and their insurance impacts begins on October 4, 2011 at 10:00 C.S.T. with the introductory presentation Cyber Data: If You Use It, Don’t Lose It: An Introduction to Cyber and Privacy Breaches and Their Insurance Impact. You can still register here for this complimentary webinar. See you… Continue Reading

Hartford Denies Coverage for Song-Beverly Claims

Posted in Class Action, Coverage, Credit Card Transaction, Insurance, Privacy Legislation, Retail

The Hartford Fire Insurance Company has filed at least two suits against insureds seeking a declaration that CGL policies it issued do not provide coverage for Song-Beverly claims filed in the wake of the Pineda decision. Hartford filed suits in Illinois federal court against Euromarket Designs, Inc. (a/k/a Crate & Barrel) and in New Jersey federal… Continue Reading

Zurich Denies Coverage for Sony PSN Hacking Claims & Files Suit

Posted in Class Action, Coverage, Cyber Breach, Insurance

The hits just keep coming for Sony.  In addition to defending 58+ class action lawsuits in the U.S. and Canada, and responding to numerous governmental inquiries into the hacking of its PlayStaion Network and Sony Online Entertainment earlier this year, Zurich has filed suit against Sony seeking a declaration that various Zurich policies do not provide coverage for the… Continue Reading

“Electronic Aggression” Excluded from Umbrella Coverage

Posted in Coverage, Insurance

The American Association of Insurance Services (AAIS) is excluding coverage for “electronic aggression” under its Personal Umbrella Policy program.  The revised form is expected to be effective in most states by October 1, 2011.  The AAIS is a national advisory organization that develops policy forms and rating information used by about 700 PC insurers throughout the U.S. “Electronic aggression,” … Continue Reading

Cyber Breach Incidents Increasing Frequency and Damage

Posted in Coverage, Cyber Breach, Insurance

Each day there are new data breaches resulting in lawsuits and loss.  Individuals are losing PII, credit card information,  and their trust in the security of their information.  Just this past week Ian Paul of PCWorld posted a recap of the larger risks in the past few months. It is impressive to think that Epsilon (which included over a hundred… Continue Reading

Privacy of Pharmaceutical Records Challenged

Posted in Breach Notification Laws, Cloud Computing, Coverage, Cyber Breach, Health Records Privacy, HIPPA, Insurance, Privacy, Privacy Legislation, Reinsurance

When a pharmacy fills a prescription, it records the drug, dosage, prescribing physician, age and gender of the patient.  The pharmacy sells this information to “data miners” who compile reports about the physician’s prescription habits.  The data miners then sell their research to pharmaceutical companies, who use the data for target marketing to doctors most likely to… Continue Reading

Data Breach Costs on the Rise: Can Insurers Help Lower the Costs?

Posted in Coverage, Cyber Breach, Insurance, Privacy

In its 2010 U.S. Costs of a Data Breach study, the Ponemon Institute reported that the costs associated with data breaches continued to rise last year and more specifically, that the costs incurred by those companies that responded quickly to the breaches were significantly higher than those paid by companies that responded more slowly.  These… Continue Reading