The world of cyber-insurance remains in flux. More than 60 insurance companies are now offering cyber-insurance policies, with no standardization or uniformity. Such an array of policies places a heavy burden on insurance professionals as they try to locate the best language in an area where even a minor mistake in wording can be disastrous.
Moreover, precious little guidance exists. Only one case substantively addressing a term in a cyber policy has appeared to date. This may be a good thing—anecdotally, insurance companies are paying claims under these policies, accounting for the lack of litigation. Whether this remains the case is yet to be seen. Many insurance coverage attorneys predict a wave of cyber-insurance litigation in the future.