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When the European Union’s updated General Data Protection Regulation (GDPR) went into effect on May 25, 2018, media reports focused on the potentially massive fines that the regulation authorizes – the regulation authorizes fines of up to €20 million or 4 percent of a company’s annual worldwide revenue, whichever is higher, for noncompliance with the regulation’s strict data collection and use requirements. The possibility of regulatory fines of this magnitude immediately raised the question of whether or not insurance is available to protect companies against the huge financial exposure. The answer to this question, it turns out, is complicated.
Continue Reading Are GDPR Fines and Penalties Insurable?

david_bergenfeld1In the current world, cyber security is critical for every organization. Cyber insurance is an important part of every organization’s cybersecurity program. In the following guest post, a Senior Associate in D’Amato & Lynch, LLP’s Fidelity Bond Practice Group, examines how business can best match their cyber insurance to their cyber security needs. I would like to thank David for his willingness to allow me to publish his article as a guest post. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is David’s guest post.
Continue Reading Guest Post: Matching Business Models and Processes with Cybercrime Insurance Programs

David Bergenfeld

In the following guest post, David Bergenfeld, a Senior Associate in D’Amato & Lynch’s Fidelity Bond Practice Group, takes a look at the key judicial decisions during the third quarter of 2016 interpreting cyber and commercial crime insurance policies. I would like to thank David for allowing me to publish his article. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is David’s guest post.
Continue Reading Guest Post: Recent Trends in Interpreting Cyber and Commercial Crime Insurance

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Stephen O’Donnell

Cyber liability insurance is a relatively new product and many of the terms and conditions found in cyber-liability policies are as yet untested in the courts. In this guest post, Stephen O’Donnell of the Steptoe & Johnson law firm takes a look at two particular standard features of the cyber liability insurance policies, the retroactive date and policy inception date exclusions, and the potential for these exclusions to preclude coverage for the very kind of exposures that are the reasons most purchasers buy the insurance.

I would like to thank Stephen for his willingness to publish his article on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Stephen’s guest post.

Continue Reading Guest Post: Cyber-Liability Insurance and the Retroactive Date Exclusion

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David Bergenfeld

In the following guest post, David Bergenfeld, a Senior Associate in D’Amato & Lynch, LLP’s Fidelity Bond Practice Group, takes a look at key court decisions during the first quarter of 2016 analyzing cybercrime insurance.  I would like to thank David for his willingness to publish his article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is David’s guest post.
Continue Reading Guest Post: Fidelity Bonds and Cybercrime Insurance: 2016 First Quarter Update

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David Bergenfeld
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Laura Lang

This past year was a very eventful one in the world of fidelity bond, commercial crime, and cybercrime coverages. In the following guest post, David Bergenfeld of the D’Amato & Lynch law firm’s Fidelity Bond Practice Group, and Laura Lang, Esq., take a look at the important developments during 2015 regarding these coverages. I would like to thank David and Laura for their willingness to publish their article as a guest post on this site. I welcome guest post submissions from responsible authors of topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is David and Laura’s guest post.
Continue Reading Guest Post: Fidelity Bonds and Cybercrime Policies: 2015 Year in Review

paul-cyber-book-250x324We are long past the point where cybersecurity can be treated like an emerging, obscure or peripheral issue. The fact is that cybersecurity is now an important concern for every organization and enterprise. For that reason, cybersecurity is also now an important concern for everyone responsible for protecting and guiding those organizations and enterprises, including in particular corporate directors and officers. In the current environment, there is no shortage of advice available for these corporate officials as they seek to understand and fulfill their responsibilities to their organizations. Indeed the sheer volume of information available can be confusing or even overwhelming. Fortunately, there is now a single volume guide available to help corporate directors address their organization’s cybersecurity exposures and needs. The new book by Paul Ferrillo of the Weil Gotshal law firm entitled “Navigating the Cybersecurity Storm: A Guide for Directors and Officers” (here) is a readable, well-organized, and helpful guide for any corporate official seeking to address their cybersecurity responsibilities.
Continue Reading Book Review: A Cybersecurity Guide for Corporate Directors and Officers