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.
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.
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.
Cyber law, cybersecurity, cyber attacks, and cyber insurance — unless you live under a rock, you’ve heard of it. And, you had better hope your lawyer has also.
I would argue that the minimum standard of care for lawyers practicing in 2015 requires a basic understanding of cyber insurance. In fact, I did make that argument, along with my co-author Katti Smith, a seasoned cyber insurance professional with AIG.
Our recent article, Practical Cyber Law: Why the Standard of Care Requires Lawyers to Have a Basic Understanding of Cyber Insurance, was published in Volume 3: Summer 2015 issue of Circuits, the official publication of the Computer and Technology Section of the State Bar of Texas. Go check it out and let us know what you think.
I am really looking forward to delivering the Keynote Address at the International Association of Insurance Professionals IAIP DFW NAIW Week event on May 12, 2015. My address, which will follow 2 hours of CE/CLE education on Cyber Liability, is titled Cyber Risk Reality Check but, the more I think about it, perhaps it should be called Cybersecurity: Mission Impossible?
Here are the materials from the event: