Businesses Left Exposed As Insurers Drop Cyber-Cover
Law360, London (February 10, 2020, 1:28 PM GMT) -- Many businesses could have insufficient cover in place after a regulator led a push to encourage transparency among insurers on the overlap between property and cyber-insurance, a dispute specialist warned on Monday.
Mactavish group warned that the pressure on insurers to clarify whether standard commercial property insurance also extends to losses resulting from cyberattacks means there are significant gaps in cover.
The Prudential Regulation Authority and Lloyd’s of London have urged insurers to go back through existing commercial property contracts and exorcise any potential triggers from cyberattacks. Unless they do so, those “silent cyber" clauses in standard property cover could mean that...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!