The CIO for the Office of Personnel Management is one of 4 defendants recently sued by the federal workers’ union for failing to correct known deficiencies in the system. The CIO is a frequent casualty of cyber breaches: Target, AOL, the Utah Department of Health, Ohio University. It is no surprise then that a CIO’s average tenure is about 5 years, much shorter than other… Continue Reading
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 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
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/).
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
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
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
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
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
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
The Illinois State Medical Insurance Exchange (ISMIE) announced today that it is offering cyber liability coverage to physicians through a partnership with Beazley Syndicate. Click here for a summary of coverages.
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
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
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
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