2014 May Be Cyberinsurance's Most Popular Year Yet
Law360, New York (March 21, 2014, 12:36 AM EDT) -- February 2014 may ultimately be seen as the month when the cyberinsurance coverage market really began. Although certain insurance companies are writing cyber coverage, and some insureds have acquired that coverage, neither group is currently comprised of significant numbers of entities. That may be about to change.
Two court rulings, one from Washington state and another from New York, have held that liability exposures resulting from the hacking of personally identifiable information ("PII") are not covered under traditional (i.e., noncyber) liability insurance coverage forms. These rulings alone are likely to drive greater inquiry into cyber coverage. On top of that, the...
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