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Ransomware Insurance: Understanding the Developing Legal & Regulatory Landscape
Ransomware attacks have grown in sophistication and frequency, particularly in the wake of COVID-19, and ransom demands have steadily increased in size. Victims have paid upwards of $70 million to unlock their compromised networks and return stolen confidential data.
In light of this ever-growing cyber threat, it is important to understand the developing legal and regulatory landscape in order to take the proper steps at the first sign of an attack. Further, in order to maximize recovery for costs expended and ransom payments made, it is crucial to get your insurers involved immediately and to make efforts to understand how to best posture your breach response.
Insurance Coverage for Ransomware Attacks
Various insurance policies may provide coverage for a company's losses and costs arising out of a ransomware attack. Cyber liability insurance policies are the most common, and targeted, sources of such coverage. You may also have available coverage in first-party property policies and kidnap/ransom or special crime policies, to name but a few.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.