Cyber Insurance: Latest Developments in 2016
With the ever increasing number of data breach incidents worldwide and governmental focus on rigorous new legislative regimes, such as mandatory data breach notification, the expenses associated with the prevention of and response to data breaches is skyrocketing. Such expenses will include ongoing internal and external communications costs; risk management expenditures, including those associated with cyber audits and prevention, and the cost of cyber insurance and due diligence compliance protocols demanded by insurers; other expenses will often include the cost of obtaining public relations advice and representation to contain reputational harm; and the cost of pre and post incident legal and accounting review and incident response measures.
To capitalize on this growing risk, insurers have begun offering insurance policies such as cyber and privacy insurance to protect against an insured's first party damages and for liability arising from a data breach. First party losses may include the loss of records and data, and repair costs incurred to correct the breach. Liability exposures may be presented by customers, clients or other third parties for any damages caused.
To address cyber risks of particular concern, in addition to those of reputational damage and violation risks, organizations should acquire specialized cyber insurance coverages responsive to the particular needs of their businesses in addition to examining the potential for coverage under more traditional insurance policies, and work closely with knowledgeable professionals to ensure all necessary steps are being taken in a manner that minimizes economic and reputational damage.
In a two-hour LIVE Webcast, a panel of legal professionals assembled by The Knowledge Group will offer the audience with an in-depth discussion of the fundamentals as well as the important issues with regards to the recent developments in cyber insurance. The panel will also provide the audience with their thoughts and opinions on the best practices and practicalities in mitigating risks and ensuring compliance with data privacy laws.
Key topics include:
- Cyber Insurance – An Overview
- Importance of Cyber Insurance
- Legal Risks in Cyber Insurance
- Factors Affecting Growth of Cyber Insurance
- Managing Cyber Risks
- Scope and Limitations of Cyber Insurance
- Best Compliance Practices
Barry J. Fleishman, Partner
Kilpatrick Townsend & Stockton LLP
- Cradle –to-grave interdisciplinary nature of cyber and data issues.
- Insurance aspects as to each phase of the timeline – Preparation, Implementation, Incident Response
- A current look at the market.
John L. Davis, Managing Partner
Gilbertson Davis LLP
Robert Kalanda, Attorney
Gilbertson Davis LLP
Cyber Insurance: The Canadian Perspective
- Legislative & Regulatory Backdrop to Cyber Claims & Insurance;
- Canadian Cases: i) Judicial Response to Cyber Claims on Conventional Insurance Policies; ii) Privacy & the Courts;
- Risk Identification For Placement of Cyber Coverage;
- Due Diligence: Insurance Prerequisites to Obtaining & Maintaining Cyber Coverage in Canada;
- Response & Mitigation: The Team Approach & Role of Counsel
Jamie Hull, Partner
Cassiday Schade LLP
Coverage for Cyber Liability Claims under CGL and Cyber Liability Policies
- CGL Insurance
- Summary of type of relevant coverages under CGL policies
- Summary of recent ISO Cyber-Liability exclusions
- Recent CGL Cyber-Liability cases
- Cyber Liability Insurance
- Common Components of Cyber Liability Policies
- Cyber Coverages for First-Party Financial Loss
- Cyber Coverage for Third-Party Financial Loss
- Typical Insuring Agreements Under Cyber-Liability Policies
- Common Cyber Liability Exclusions
- Summary of recent Cyber Liability Policy cases, if any
Who Should Attend:
- Cyber Insurance Lawyers
- Privacy Lawyers
- Cyber and Privacy Insurance Companies
- In-house Counsel
- Private and Public Companies
- Data Breach Analysts
- Privacy and Data Security Officers
- Other related/interested Professionals and Organizations
Barry Fleishman focuses his practice on complex policyholder insurance coverage issues. His insurance coverage experience includes representation before federal and state courts, arbitral tribunals, and judicial and private mediators, focusing on corporate policyholder claims for insurance coverage arising out of liability and loss from property damage, bodily injury, personal injury, and alleged wrongful acts of directors and officers. Mr. Fleishman has represented major corporations seeking insurance coverage with respect to liabilities and losses incurred as the result of catastrophic property damage, defective or misused products, environmental damage, alleged discrimination, and directors’ and officers’ activities in cases involving natural disasters, including major hurricane and cyclone-related losses, fires and explosions, mold and moisture, and alleged corporate wrongful acts.
Mr. Fleishman was recognized in The Best Lawyers in America® for Insurance Law in 2016 and the six years immediately preceding. He was recognized in 2015 and the four years immediately preceding as a Washington D.C. "Super Lawyer" in the area of Insurance Coverage and a “Top 100 Lawyer” in Washington D.C. from 2011 2015, as selected by Super Lawyers magazine and published in the Washington Post. In 2011, Mr. Fleishman was recommended in the area of Insurance by Legal 500 US. He is also member of the Washington, D.C. team recognized as a Tier 1 practice in Insurance Recovery in 2011 by US News - Best Lawyers® "Best Law Firms." Mr. Fleishman was recognized by Legal Media in its 2013 and 2014 Guide to the World's Leading Insurance and Reinsurance Lawyers. He was listed in the International Who's Who of Business Lawyers in 2014 for Insurance. Mr. Fleishman was listed in the International Who’s Who of Reinsurance and Insurance Lawyers for 2013 and 2015.
Barry Fleishman focuses his practice on complex policyholder insurance coverage issues. His insurance coverage experience includes representation before federal and …
John L. Davis is the Managing Partner of Gilbertson Davis LLP, a Toronto based insurance and commercial litigation boutique. He practices law in the field of Civil Litigation focusing on insurance defence, coverage, subrogation/recovery and related matters, and has had experience at all levels of Ontario Courts. John has Industry experience as an in-house Claims Counsel with an insurance company dealing with large loss commercial property and casualty exposures. With the attention given in both the public and private sectors to the prevention and management of data breach and cyber liability, John and the Firm have leveraged their experience and skills to build a privacy and cyber practice group within the Firm’s insurance and commercial litigation practice.
John L. Davis is the Managing Partner of Gilbertson Davis LLP, a Toronto based insurance and commercial litigation boutique. He …
Robert is an Associate Lawyer with Gilbertson Davis LLP, and practices in civil and commercial litigation, with a focus on privacy, business and contractual disputes, intellectual property disputes, and appellate work, including issues relating to cyber insurance and data breach liability. Robert has appeared before the Superior Court, Divisional Court, and Court of Appeal of Ontario, and Federal Court of Canada.
Robert is an Associate Lawyer with Gilbertson Davis LLP, and practices in civil and commercial litigation, with a focus on …
Jamie L. Hull is a partner of Cassiday Schade LLP. She concentrates her practice in the area of insurance coverage litigation, including broker/agent professional liability matters, business litigation and appellate matters. Ms. Hull has represented insurance companies, corporations and individuals in a variety of insurance and business matters in both federal and state courts. She has extensive experience with risk retention groups, self-insured retentions and all types of insurance policies including commercial general liability, disability, professional liability, employer's liability, excess/umbrella and personal lines. Ms. Hull has been named a “Rising Star” in the area of insurance coverage since 2009 by Super Lawyer’s Magazine. She has also been named an Emerging Lawyer by Leading Lawyers Network in 2015 and 2016.
Jamie L. Hull is a partner of Cassiday Schade LLP. She concentrates her practice in the area of insurance coverage …
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About Kilpatrick Townsend & Stockton LLP
Kilpatrick Townsend & Stockton LLP is an AmLaw 100 firm comprised of nearly 620 attorneys in four countries. Kilpatrick Townsend is one of the world’s leading multi-practice law firms with expanded legal capabilities and geographic reach. We commit to finding the best, most effective solutions to help our clients build, support, and protect their businesses.
We provide unsurpassed legal representation within the following practice areas:
- Intellectual Property: The full complement of IP procurement, counseling, and litigation
- Litigation: Insurance recovery, environmental, complex business, and technology
- Technology Transactions: Outsourcing, licensing, and joint venture agreements
- Business and Finance: Mergers and acquisitions, tax, real estate, and capital markets
- Construction and Infrastructure: All aspects of transactions and litigation
- Employment Benefits, Labor and Employment: Counseling, benefits, and litigation
About Gilbertson Davis LLP
Gilbertson Davis LLP is a Toronto based insurance and commercial litigation boutique law firm which has carried on business since 1982. It maintains a practice representing domestic and internationally based insurers and insureds on insured and self-insured risks, across multiple lines of insurance and also involving diverse businesses and individuals in commercial disputes, often with international or cross-border implications, or requiring urgent relief from the courts.
About Cassiday Schade LLP
Cassiday Schade LLP is a Chicago based litigation firm with a diverse range of practice groups and experience. For over three decades, Cassiday Schade has provided highly skilled and cost-effective legal services with emphasis on a partnership with its clients in order to best determine the path to a successful conclusion. With experience in virtually all areas of civil litigation, we have a diverse client base, representing corporations from a variety of industries, including health and long-term care, insurance, financial services, manufacturing, construction, professional services and transportation. The firm’s attorneys handle lawsuits throughout the Midwest and act as national or regional counsel for clients facing nationwide exposure. The firm’s practice groups include:
- Commercial Litigation
- Employment Law
- Environmental and Toxic Injury
- Health Care
- Mediation and Arbitration Services
- Medical Liability
- Nursing Home/Long-term Care
- Product Liability
- Professional Liability