image

Articles

Less Cyber Coverage, More Compliance Risk for Companies

Law360

  • Published On: May 12, 2023

Last year, policyholders received several favorable decisions recognizing coverage for cyber losses under various types of policies, including crime and all-risk property policies.

Before companies seeking to ensure adequate coverage for cyber risks had the opportunity to realize benefits from these decisions, insurance companies introduced new policy exclusions seeking to further limit their exposures.

The new policy exclusions, coupled with new regulatory requirements, potentially create a new set of liability risks for cyber defense and compliance to which companies must devote resources.

New Cases

One of the most significant decisions on cyber risk coverage last year was issued on Jan. 13 by the Superior Court of New Jersey, Law Division, Union County, in Merck & Co. v. ACE American Insurance Co.[1]

To read this full article, click here (subscription required) or download PDF here.

Related People
image
Luma S. Al-Shibib
View Moreimage
image
Steven J. Pudell
View Moreimage
Related Practice Areas

© Copyright 2024 by Anderson Kill P.C.