Analyzing the Global Impact of Cybersecurity, Law, and Business Risk
In my latest post for SecureWorld, explain 4 key takeaways for businesses from the Spec’s v. Hanover lawsuit regarding cyber insurance. Check it out and let me know what you think: 4 Key Cyber Insurance Takeaways for Companies from Spec’s v. Hanover Lawsuit
Target, in a recent document filed with the Securities and Exchange Commission, provided updated information on the financial impact of its 2013 data breach:
Source: Target: SEC won’t penalize it over 2013 data breach – StarTribune.com
Losses stemming from social engineering scams like the business email compromise are not covered by “computer fraud” provisions of commercial crime insurance policies according to the Fifth Circuit Court of Appeals in Apache Corp. v. Great American Insurance Co. Continue reading “Cyber Insurance: Social Engineering Not Covered Under “Computer Fraud” Insurance Provision”
Watch the video for the explanation or see below for the spolier.
SPOLIER ALERT! Continue reading “What Does the Travelers Case Really Mean for Cyber Insurance?”
Cybersecurity, data breach, cyber attacks, and cyber insurance. Unless you live under a rock, you have heard of it. You better hope your lawyer has too!
Shawn Tuma argues that the minimum standard of care for lawyers practicing in 2015-16 requires a basic understanding of cyber insurance. He recently explained that argument, along with his co-author Katti Smith, a seasoned cyber insurance professional with AIG.
The Texas Bar Journal published their article, Risky Business: Why lawyers need to understand cyber insurance for their clients, in the December 2015 issue. In the article, they explain what cyber insurance is, what kinds of policies cover cyber liability, key first-party and third-party costs that should be covered by such a policy, as well as key items that are often not covered.
Go check it out and let them know what you think.
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Shawn Tuma (@shawnetuma) is a business lawyer with an internationally recognized reputation in cybersecurity, computer fraud and data privacy law. He is a Cybersecurity & Data Protection Partner at Scheef & Stone, LLP, a full-service commercial law firm in Texas that represents businesses of all sizes throughout the United States and, through its Mackrell International network, around the world.