Description
Nearly all commercial general liability policies since 2014 have excluded coverage for nonphysical loss due to data breaches. The emergence of cyber insurance policies has filled that gap. However, issues like the lack of uniformity in coverages and exclusions, and vague language addressing coverage requirements, create challenges for businesses procuring cyber insurance.
Cyber insurance can provide first-party coverage for a broad range of losses resulting from a data breach. Expenses associated with engaging forensic examination teams, outside counsel, and public relations firms to handle breach response and crisis communications or remittance of any fines, penalties, or extortion payments all may fall within the scope of coverage. Cyber insurance also can provide valuable coverage for third-party claims and regulatory investigations arising out of a data breach.
Counsel for insurers and policyholders must prepare to negotiate these and other specific terms such as retroactive dates and coverage for emerging data privacy risks, as well as the scope of any coverage exclusions. Likewise, practitioners must grasp the interplay between cyber insurance and other coverage like CGL, D&O, crime, commercial property, and technology E&O policies, and how to efficiently maximize the aggregated protection they afford.
Listen as our panel of experts provides critical guidance on drafting and negotiating these essential provisions of commercial contracts.
Presented By
Mr. Guilbert specializes in assisting large businesses and financial institutions in insurance recovery actions, high-stakes contract disputes, and cross-border litigation. He has successfully assisted his clients in the recovery of hundreds of millions of dollars from insurance companies in the U.S., London and Asian markets. Mr. Guilbert also counsels leading companies in complex commercial matters in state and federal courts at the trial and appellate levels. He also routinely handles cross-border disputes in domestic and international arbitration.
Mr. Kowalewsky is a Partner in the San Francisco office. His practice focuses on insurance coverage including cyber and tech E&O, D&O and other professional liability, general liability, marine, energy, healthcare and property. In addition to litigating a wide range of disputed coverage claims, Mr. Kowalewsky also counsels London Market and other insurers on monitoring and settling underlying litigation by third parties, scope of coverage and advice on wordings.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Tuesday, January 24, 2023
- schedule
1:00 p.m. ET./10:00 a.m. PT
- Defining the risk
- Data breach
- Internet of things and biometric risks
- Interplay with other insurance provisions
- CGL coverage
- D&O coverage
- Technology E&O coverage
- Property, crime, and other lines of coverage
- Practical guidance
- Procurement
- Claims
- Preventative measures
- Compliance considerations
- State law, including the CCPA, the Illinois Biometric Privacy Act, and NYDFS
- Federal law
- GDPR and other international regulations
The panel will review these and other relevant issues:
- How does cyber insurance dovetail with other insurance policies like CGL, D&O, or E&O coverage to mitigate risk and losses?
- How can counsel for insurers and policyholders assist in clearing common roadblocks to procure coverage in the event of a claim?
- What specific exclusions commonly require extra consideration from counsel?
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