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Hacker Attack: Data Loss Considered Covered Property Under First-Party Policy
The U.S. Court of Appeals for the 4th Circuit has recently weighed in on the applicability of standard-form, first-party property policies to the loss of computer data, finding such data loss resulting from a hacker attack by a former employee of the insured to be covered property damage. NMS Services, Inc. v. The Hartford, No. 01-2491, 2003 WL 1904413 (4th Cir., April 21, 2003)
The insured, a software development company selling computer programs to the telemarketing industry, suffered considerable damage to vital computer files and databases necessary for the operation of its manufacturing, sales, and administrative systems as a result of the hacker attack, which had been perpetrated by a former technical systems administrator for the insured (who had been fired 21 days earlier). It was later determined that, while still an employee, the perpetrator had surreptitiously installed two hacking programs on the network that permitted him to gain access to the system and carry out the attack after his termination.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.