image

News

Anderson Kill Managing Shareholder Talks Cybercrime Losses

Law360 Insurance Authority

  • April 22, 2022

Businesses continue to experience multimillion-dollar losses from ransomware, wire fraud and phishing attacks. While some policyholders have found remedies through crime insurance, most insurers argue that cyber thefts are intangible and not a so-called direct loss covered by the policy.

Pamela Hans, a managing shareholder of Anderson Kill's Philadelphia office, told Law360 that most courts have found that cyber theft constitutes a direct loss covered by a crime insurance policy. But she cautioned that policyholders need to carefully read their policy language and work closely with brokers when getting the policy and handling a cyber loss.

To read the full article, please download the PDF here.

Related People
image
Pamela D. Hans
View Moreimage
Related Practice Areas

© Copyright 2024 by Anderson Kill P.C.