Insurance (CLE)

Cyber Insurance and Cyber Incident Response: Preventing Catastrophic Consequences and Damages

2023-01-31T23:03:48-05:00

Cybersecurity incidents are inevitable in today’s digital landscape. The sophisticated cyberattacks as well as the increasingly complex compliance regulations pose substantial challenges to organizations. While a cyber incident response strategy helps mitigate exploited vulnerabilities, it is paramount for companies to also safeguard their business data from potential losses and thwart malicious security incidents by integrating a cyber insurance policy.

Insurance Coverage and Bad Faith Litigation in 2022: Best Practices for Resolving Insurance Disputes

2022-09-21T23:51:28-04:00

The past months have seen a rise in new insurance coverage and bad faith filings. Notably, a significant number of claims filed at both federal and state courts were dismissed favoring insurers due to the lack of "direct physical loss or damage" to property. In the recent McNamara v. Government Employees Insurance decision, the U.S. Court of Appeals for the Eleventh Circuit reversed the Florida district court’s decision dismissing the bad faith claim. The Eleventh Circuit held that “consent judgment is the ‘functional equivalent’ of an excess judgment that permits the insured to proceed against the insurer for bad faith.”

How to Effectively Handle Depositions in Insurance Coverage and Bad Faith Litigation: A Practical Guide

2023-01-02T21:44:56-05:00

Depositions are a crucial part of the pre-trial discovery in insurance coverage and bad faith litigation. It also involves nuances distinctive to insurance law, such as the legal complexities brought by Rule 30(b)(6), which litigators need to be well-versed in. Successful management of litigation deponents is a significant step to prevailing in the case, hence, thoughtful strategies need to be put in place.

Business Interruption Insurance: Lessons Learned from the Pandemic

2021-06-15T03:55:09-04:00

The COVID-19 pandemic is drastically affecting today’s global economy. Because of temporary closures and disrupted supply chains and sales, businesses today are confronted with profound income losses. This fallout has prompted an upsurge in business interruption insurance claims. Whether standard commercial policies provide coverage for virus-related income loss is hotly contested, however. Likelihood of recovery on such claims will depend on the terms and conditions of individual policies, as well as ongoing developments in litigation and legislation.

Business Interruption Insurance Coverage Claims and Litigation: What You Must Know and Do Amid the COVID-19 Pandemic

2021-06-14T23:29:18-04:00

Since the onset of shutdown orders due to COVID-19, business owners have turned to their insurance policies to seek coverage for lost revenue and other pandemic-induced expenses. Insurers have generally denied business interruption coverage to these claims, referring to policy requirements for direct physical loss. Policyholders have brought their claims to the courts and, in most cases, judges have ruled in favor of the insurers. However, this trend is expected to change as plaintiffs start to find the weaknesses of the defendants’ arguments.

Representations and Warranties Insurance: Trends, Developments, and Issues You Should Know

2021-08-22T22:07:05-04:00

The representations and warranties insurance (RWI) market continues to rapidly evolve as it responds to the ongoing pandemic. A number of RWI trends have started to emerge including the classification of the current crisis as a heightened due diligence area and the standardization of COVID-19 exclusions. More significantly, several other issues are yet to arise as the health crisis continues to unfold.

Cyber Insurance in Commercial Contracts: What You Must Know and Do

2021-03-22T23:57:26-04:00

Cyber insurance has been valuable in covering non-physical losses in commercial contracts. Significantly, as cases of cyber threats continue to proliferate, many contracts now contain a sub-clause on cyber coverage which protects businesses from damages brought by data breaches and computer attacks. Cyber insurance also provides coverage for regulatory investigations as well as for third-party claims.

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