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”
Tag: Cyber Insurance
Cybersecurity Legal Issues: What you really need to know (slides)
Shawn Tuma delivered the presentation Cybersecurity Legal Issues: What you really need to know at a Cybersecurity Summit sponsored by the Tarleton State University School of Criminology, Criminal Justice, and Strategic Studies’ Institute for Homeland Security, Cybercrime and International Criminal Justice. The presentation was on September 13, 2016 at the George Bush Institue. The following are the slides from Tuma’s presentation — a video of the presentation will be posted soon!
Continue reading “Cybersecurity Legal Issues: What you really need to know (slides)”
D CEO Magazine: Why Cybercriminals Are Targeting Law Firms
Many thanks to attorney and legal scholar extraordinaire John G. Browning (@therealjohnbrow) for quoting Shawn Tuma in his article in this month’s D CEO magazine: Why Cybercriminals Are Targeting Law Firms. Continue reading “D CEO Magazine: Why Cybercriminals Are Targeting Law Firms”
What Does the Travelers Case Really Mean for Cyber Insurance?
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 Legal Year in Review – #DtSR Podcast
Do not miss this podcast discussing key cybersecurity legal events from 2015. Shawn Tuma joined the DtSR Gang [Rafal Los (@Wh1t3Rabbit), James Jardine (@JardineSoftware), and Michael Santarcangelo (@Catalyst)] on the Down the Security Rabbit Hole podcast.
In this episode…
- Most important cybersecurity-related legal developments of 2015
- Tectonic Shift that occurred with “standing” in consumer data breach claims
- Discussion of law prior to Neiman Marcus case, and post-Neiman Marcus
- Does this now apply to all consumer data breach cases?
- Immediate impact? Companies now liable?
- Lesson is in seeing the trend and how incrementalism works
- Michaels & SuperValu case dismissals in light of Neiman Marcus
- Tectonic Shift that occurred with “standing” in consumer data breach claims
- Regulatory Trends
- FTC & SEC gave hints in 2014, post-emergence of Target details
- Wyndham challenged authority – came to fruition in August 2015
- SEC not far behind – significant case in September 2015
- Aggressiveness of FTC is substantial – FTC v. LabMD … all over LimeWire
- Officer & Director Liability
- 2014 – SEC Comm. fired the warning shot … pointed the finger
- Shareholder derivative litigation
- Individual liability of IT / Compliance / Privacy “officers”
- Anticipated 2016 Legal Trends
- Regulatory enforcement … which, by the way, is why NIST is becoming default
- Shareholder Derivative – much more likely than consumer class actions at this time
- Lessons from both of these: when you need to persuade the “money folks” that they need to act, mention D&O Liability (especially Caremark) and Regulatory focus on individuals … now they’re in the cross-hairs
- Realization that cybersecurity is more of a legal issue than anything else (IT or business) b/c it is the legal requirements and consequences that ultimately drive everything
Go HERE to listen to the Podcast!