SDV Insights

Cyber Risk Insights

CGL Policy May Not Cover Cybersecurity and Data-Related Losses

The construction industry, like many other industries, has experienced an increased reliance on, and implementation of, technology in the past few years.

Read More +

Will Bennett Featured on Insuring Cyber Podcast

SDV's Will Bennett joined the latest episode of Insuring Cyber Podcast. Will and host Elizabeth Blosfield, Deputy Editor at Carrier Management, took a dive deep into the captivating world of generative AI chatbots in the insurance industry and explored the benefits and risks associated with their use and the use of AI in the insurance industry in general.

Read More +

A Narrow Property Policy Interpretation Finds No Coverage for Encrypted Software as a Result of a Ransomware Attack

The Supreme Court of Ohio recently ruled that a ransomware attack on a medical billing company failed to cause direct physical damage to the company's computer software as required under its business owners policy. Prior to this ruling, a ransomware attack on a business computer system and resultant claim under an all-risk commercial property insurance policy had not been addressed in Ohio.

Read More +

Five Actions Construction and Energy Risk Managers Can Take to Avoid the Catastrophic Consequences of a Cyber Attack

With the ever-increasing usage of technology in the construction and energy industries, risks to business operations have also increased. Property developers and construction contractors rely on electronic data and communications more than ever to streamline projects, ensure efficient and timely supply chain delivery, and facilitate immediate communications between parties.

Read More +

Do I Need an Attorney to Handle My Cyber Risk Exposure?

Technology is the driving force behind industry and growth for all businesses, but its advantages come with risks. Downed computer systems and lost data can have significant financial impacts. Security breaches, viruses, and information theft by computer hackers also pose a serious problem. Thousands of cyberattacks occur in the US every day, and no business is immune from this threat.

Read More +

Will Your Cyber Insurance Program Respond if Western Sanctions on Russia Lead to Cyber-Attacks in the West?

On February 24, 2022, Russia invaded Ukraine, escalating the conflict between the two countries to unprecedented levels. Much of the West quickly responded to Russia's aggression by levying some of the most severe sanctions in history on Russia's government, companies, and wealthy citizens, including Vladimir Putin.

Read More +

Mitigating Franchisor Exposures for Systemwide GDPR Compliance through Cyber Insurance

The European Union's ("EU") General Data Protection Regulation ("GDPR") has been in effect for just over a year, and the full extent of the data privacy law's global impact is just now being fully realized.

Read More +

The Sixth Circuit Weighs in on "Direct Loss" Issue for Cyber Fraud Coverage

Earlier this month, SDV reported on a recent Second Circuit case where the court broadly interpreted the "direct loss" requirement to find coverage for a cyber fraud, email spoofing scam. Now, the Sixth Circuit Court of Appeals has issued a similar opinion in American Tooling Center, Inc. v. Travelers Casualty & Surety Company, finding coverage for a company that lost $834,000 to a similar scam. These recent decisions may indicate a trend in favor of policyholders on the "direct loss" issue.

Read More +

Second Circuit Finds Coverage in Cyber Fraud Case

On Friday, July 6, 2018, the United States Court of Appeals for the Second Circuit held that a fraudulent email that caused a company to transfer $4.8 Million to the fraudster was a "direct loss" and was, therefore, covered by the company's computer fraud insurance.

Read More +

Medidata Win Fortifies Policyholders In Digital Fraud Fights

In a pro-policyholder decision, LAW360.com reported that a New York federal judge recently ruled that a thief's use of emails to trick employees of Medidata into wiring money overseas was a covered incident under the company's computer fraud policy, weakening insurers' arguments that such coverage is meant to apply only to hacking into policyholders' computers.

Read More +

CONTACT US


The email you are sending does not create an attorney-client relationship with SDV. We do not agree to representation until we have performed a check for conflicts of interest and expressly agree to provide services in a particular matter via an engagement letter. The information submitted to us via this website will NOT be treated as confidential or privileged as a lawyer/client communication and our receipt of this information does not prevent us from representing a client related to the subject of your inquiry.

Northeast

35 Nutmeg Drive, Ste 140
Trumbull, CT 06611

203.287.2100

136 Madison Avenue, 6th Fl.
New York, NY 10016

203.287.2100

233 Mount Airy Road
Basking Ridge, NJ 07920

973.446.7300

Southeast

999 Vanderbilt Beach Road, Ste 603
Naples, FL 34108

239.316.7244

West Coast

One BetterWorld Circle, Ste 300
Temecula, CA 92590

951.365.3145

SDV is headquartered in Connecticut, with regional offices located in New York, New Jersey, Florida, and California to better serve our clients nationwide. We have the experience and insight to effectively address your insurance coverage concerns and provide practical solutions to any risk transfer challenges you face.