Category: Cyber-Liability

Professional have become increasingly reliant on digital technology to run their practices.  This digital revolution has reshaped the way that many professionals operate and has allowed professionals to better service their clients.  At the same time, reliance on technology has created new areas of exposure for professionals.

A recent report from Chubb analyzed how this technological revolution has reshaped the construction industry.  Under the traditional design-bid-build process, a project would be designed by architects under a separate contract with the owner, and then put out …

Cyber liability threats continue to pose a danger for companies and professionals.  In order to help mitigate the damages of cyber breaches, businesses are becoming increasingly reliant on third-party security vendors to provide cyber consulting and to manage their data security risks.  While prioritizing data security is an important step for firms to take to minimize their own exposure, it is not always possible to eliminate threats entirely.  And when breaches do occur, businesses and their customers may look to hold these third-party data security …

Cyber liability claims are on the rise.  Recent breaches against Home Depot, Target and Walmart have grabbed media attention.  However, it is not only large retailers who are targets for attack.  In fact, the majority of attacks are directed to small businesses.  According to a recent study, the average total insurance claim for cyber breaches against small companies is over $600,000 and the average for larger companies is close to $5 million. Are you prepared?

Despite this growing threat, many businesses and professional firms …

Data breaches and cyber-security issues are hot topics.  Any company that utilizes electronic means to conduct business, obtain and store information or customer data is subject to the risk of a data breach.  The effects of a breach can be devastating.  We have recently blogged about practice pointers and tips for companies and boards of directors to be gleaned from high-profile breaches such as the one facing Sony.  Against the backdrop, President Obama weighed-in on the significance of cyber crime.

In a January 12, 2015 …

Sony Pictures recently became the target of a sophisticated and debilitating digital attack.  The first signs of the hack appeared in late November, when an image of a skull flashed on every employee’s computer screen accompanied by a threatening message that the company’s internal data had been compromised.  The company initially experienced a shutdown of many of its computers.  In the following days, the hackers began to leak private company data.  Five Sony films, including four unreleased projects were leaked online, along with compensation …