Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Courts Strictly Construing Cyber Insurance Policies, Finding Coverage Is Narrow
In several recent cases, companies with cyber insurance discovered that provisions in these policies led their insurers to limit coverage. Courts have been strictly construing cyber policies, and have found that the coverage provided is narrow. These decisions hinged upon whether an event constituted a covered "direct" loss and whether intervening actions precluded coverage, like an employee responding to fraudulent communications.
In February 2021, a Texas federal court determined that a payment processor for rental property management companies was not covered for losses from a phishing event. See, RealPage v. National Union Fire Insurance Co. of Pittsburgh, Case No. 3:19-cv-1350-B, United States District Court, Northern District of Texas (Feb. 24, 2021). Hackers used a fishing scam to gain access to funds held by RealPage's third-party payment processor, Stripe. RealPage made a business decision to reimburse its clients. The policy required that RealPage "hold" funds as a prerequisite to coverage for any funds stolen through cyber fraud. The insurer denied the claim because, while RealPage could direct the transfer of those funds in the Stripe accounts, RealPage never "held" the funds that were lost.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.