July 2017
Cyber Security Insurance: Nine Questions to Ask to Determine Your Exposure

There is an increased interest in cyber security insurance for businesses amid frequent news of computer hacking, network intrusions, data theft, and high-profile ransomware attacks.

At the same time, there are a range of insurance policies that may cover aspects of cyber security incidents and crime, like stand-alone cyber policies, commercial general liability, D&O/management liability, commercial crime coverage, media liability, network security and privacy policies, and other blended products. However, insurers have started writing exclusions for cyber and privacy liabilities into “non-cyber” policies and directing policy-holders to buy cyber insurance specifically for those risks. The question of whether other insurance policies provide coverage for cyber incidents is hotly contested, but one that can be expensive to litigate. Thus, it is important for businesses to have a clear understanding of whether their current policies cover cyber incidents, and if so, to what extent.

To view the full e-alert, including several questions to ask your insurer as well as practical considerations, click here.