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Entertainment Law & Finance
Insurance Issues In AI-Related Risks
Cassandre Coyer
Most entertainment industry organizations have by now heard the warning bells of risks that come with the use of artificial intelligence technology, from data privacy and cybersecurity threats to potential copyright infringement and discrimination claims. In face of the recent spike in AI-related litigation, such risks could soon prove costly, leaving one last barrier of defense for entertainment companies that use AI: insurance.
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Commercial Leasing Law & Strategy
New NJ Statute Requires Notices of Flood-Prone Areas In Commercial Real Estate Transactions
Gordon C. Duus
On July 3, 2023, the New Jersey Legislature enacted a statute requiring sellers and landlords of commercial and residential property to provide notices of flood-prone areas to purchasers and tenants before the transaction becomes binding.
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Cybersecurity Law & Strategy
Navigating the Risks and Opportunities of ChatGPT
Greg Hatcher
The Implications of Data Breaches and Generative AI Platforms for the Legal Industry
The pros and cons that law firms should consider before incorporating generative AI.
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Cybersecurity Law & Strategy
Cyber Insurance Costs Are on the Rise, But Law Firms Can’t Afford to Forgo It
Rhys Dipshan
While law firms are feeling first-hand the impact of a cyber insurance market struggling to stabilize, the full extent of all the changes have yet to fully hit home.
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Cybersecurity Law & Strategy
Courts Strictly Construing Cyber Insurance Policies, Finding Coverage Is Narrow
Ella Shenhav and Eric S. Adams
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.
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Cybersecurity Law & Strategy
The Meaning of the 'War Exclusion Clauses' In Cyberinsurance
Isha Marathe
The Eastern European conflict is already adding stress to already strained domestic relationships in the U.S. — between businesses and cyber insurance companies. As businesses face more cyberthreats than ever before, many are seeing higher premiums. Meanwhile, insurance companies are looking for ways to skirt coverage obligations that end up proving far too expensive
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Cybersecurity Law & Strategy
Cyber Insurance Experiencing Future Shock
Barry M. Miller and Elisabeth Gentile
Insurers who write cyber liability policies are well-equipped to manage cyber claims, but what about carriers and adjusters who face such claims under more traditional policies — also known as “Silent Cyber?” This article aims to help non-cyber risk adjusters who may have to oversee such a claim.
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Cybersecurity Law & Strategy
Landscape of Standalone Cybersecurity Policies Has Changed Due to Increased Risk and Scrutiny
Walter Andrews, Andrea DeField and Sima Kazmir
Because the market is rapidly changing, policyholders should not expect that they’ll be offered the same coverage at renewal. Policyholders should start their renewal process earlier going into this year’s renewal so they have time to analyze new pricing, as well as new endorsements that may limit coverage and consider alternative forms, insurers, and policies to maximize coverage.
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Business Crimes Bulletin
Insurance Fraud Remains Key Area of Government Focus
Michael A. Sirignano
During the past year, there were important government reports examining the defrauding of health insurance programs, new trends and government initiatives relating to fraud, and insurance fraud cases involving significant numbers of defendants. When added together, it is not difficult to understand why insurance fraud remains such a key area of focus for government officials, carriers and attorneys.
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Commercial Leasing Law & Strategy
Why Commercial Insurance Prices Are Rising
Ted Knutson
Commercial insurance prices are rising as increased costs from climate change, the supply chain crisis and inflation take hold, Westchester, a commercial property, and casualty insurance underwriter, said in a new report.
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Commercial Leasing Law & Strategy
Tenth Circuit: Government COVID Closure Orders Do Not Trigger Coverage for Loss of Business Income
Stephen Masciocchi and Tina Van Bockern
In a recent case, the Tenth Circuit joined other circuits in holding that government closure orders due to the COVID-19 pandemic do not trigger insurance coverage for loss of business income, reasoning that the temporary inability to use property caused by COVID shutdown orders doesn’t involve a covered physical loss of property.
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Cybersecurity Law & Strategy
Growth of Cyber Attacks Leading Insurers to Drop the Unprepared
Victoria Hudgins
Securing cyber insurance is becoming more difficult. Law firms are facing insurance carriers that are placing a heavier emphasis on proactive cybersecurity measures, dropping clients, and even exiting the cyber insurance space when the risk outweighs the premium.
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Cybersecurity Law & Strategy
Ransomware Insurance: Understanding the Developing Legal & Regulatory Landscape
J. Andrew Moss, David M. Cummings and Jessica E. Gopiao
In light of the ever-growing ransomware 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, including getting the insurance company involved immediately.
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Commercial Leasing Law & Strategy
COVID-19 and Lease Negotiations: Casualty Provisions
Ann E. Ryan and Adrienne B. Koch
First in series of articles that will examine specific aspects of the COVID shift in which commercial lease negotiations are seeking protection against unlikely events. Part 1 focuses on casualty provisions.
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Entertainment Law & Finance
Key Issues In Cyber Insurance Policies
John Palmeri, Danielle Gardiner and Carlos Rivera
The surge in ransomware attacks has made familiarity with the provisions of cyber insurance essential for professionals in the entertainment industry, which is among prime targets of ransomware operatives.
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Cybersecurity Law & Strategy
Work from Home Could Lead to Higher Cyber Insurance Claims
Yakir Golan
A look at the main software and application categories that increased during remote work and the vast implications for user privacy, corporate cybersecurity and cyber insurance.
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Commercial Leasing Law & Strategy
Drafting a Fair Force Majeure Provision In the Wake of COVID-19
Scott R. Lippert and Darcy Baboulis-Gyscek
Only a handful cases have addressed force majeure clauses in commercial real estate agreements in the wake of the pandemic, which has produced conflicting views as to whether performance was excused.
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Commercial Leasing Law & Strategy
Underwriting Adjusts As Pandemic Continues
Erika Morphy
Underwriting clearly has been affected by the pandemic-led downturn. Lenders are using higher vacancies and reserves to underwrite, leading to more conservative loan proceeds.
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The Intellectual Property Strategist
A Unique Solution to COVID-19-Related Delays At the U.S. International Trade Commission
Robert Angle and Brittanee Petrik
In the wake of the COVID-19 pandemic, the ITC was forced to suspend in-person hearings and halt its fast-paced schedules while it explored existing technological resources and reliable and secure options available for video conferencing that would protect parties’ confidential business information (CBI).
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The Bankruptcy Strategist
COVID-19 Related Governmental Shut Down Order Triggers Force Majeure Provision In Restaurant Leases
Marisa L. Byram
While commercial leases and the force majeure clauses contained in such leases vary widely, a recent decision from the United States Bankruptcy Court for the Northern District of Illinois may provide guidance to parties and help them to resolve similar disputes without resorting to the courts.
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Commercial Leasing Law & Strategy
COVID-19 Related Governmental Shut Down Order Triggers Force Majeure Provision In Restaurant Leases
Marisa L. Byram
As we all expected, cases are being brought and decided on the issue of whether the COVID-19 pandemic and related governmental shut down orders trigger force majeure clauses in commercial leases and operate to excuse the performance of commercial tenants. While force majeure clauses vary widely, a recent decision from an Illinois Bankruptcy Court may provide guidance to help resolve disputes without resorting to the courts.
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Commercial Leasing Law & Strategy
Does Force Majeure Apply? Answering Questions About Contracts in the Time of Coronavirus
New ebook from ALM's Law Journal Press addresses clients' questions about the enforceability of contracts in the wake of COVID-19.
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Cybersecurity Law & Strategy
Preparing for the LIBOR Phase Out: Contract Remediation Starts with Contract Intelligence
Ryan Drimalla and Karl Dorwart
The London Interbank Offered Rate has long been the global basis for agreements that include a variable interest rate component. However, LIBOR would be replaced by other benchmarks by the end of 2021. Key to assessing risk of exposure, quantifying the financial impact, developing remediation plans and communicating material information to stakeholders will be the identification, analysis and remediation of LIBOR-based contracts.
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Entertainment Law & Finance
Does Insurance Policy Cover Media Office COVID-19 Closure?
Howard B. Epstein and Theodore A. Keyes
According to news reports, and judging from the plethora of lawsuits filed seeking insurance coverage for lost income incurred as a result of the COVID-19 pandemic, insurance companies are for the most part denying claims for business interruption losses. The type of insurance claim at issue may make a difference.
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Cybersecurity Law & Strategy
Is Cyber-Risk Insurable?
Nina Cunningham
In an environment of moving targets, it seems unimaginable that insurance against cybersecurity attacks can be robust enough to provide real protection. There are many types of risks involved, and some include physical damage to property.
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Cybersecurity Law & Strategy
Cyber Risk Assessments are a Critical Component of All Cybersecurity Programs
Collin J. Hite
Many companies remain overwhelmed by the prospect of developing a cybersecurity program. Too many still see cyber crime as an IT issue, and simply defer to that department. Cybersecurity is most definitely an information security issue and it must be treated as such. Failure to recognize this concept almost ensures a weak cybersecurity program that remains highly vulnerable to breaches.
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Commercial Leasing Law & Strategy
After a Hurricane: Can the Property Manager Be Blamed for a Lessee's Losses?
Janice G. Inman
The recent decision in Sears Roebuck & Co. and Kmart Corp. v. W/S Lebanon LLC seems timely in light of the fact that commercial landlords, tenants and their insurance providers are grappling with the problems caused by the extreme wind and rain of hurricanes. Here's what happened in that case.
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Cybersecurity Law & Strategy
DRaaS: How It Takes a Law Firm's DR Beyond Insurance
Jeff Ton
With expectations for an always-on law firm, significant challenges within the legal industry to maintain competitiveness and perform due practice for cybersecurity and other disaster scenarios come from both clients and regulatory bodies. A comprehensive approach with an end-to-end availability strategy is imperative to mitigate the threats of downtime. And yet, this is easier said than done.
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Medical Malpractice Law & Strategy
Managing Cyber Risks in Medical Practices
Kevin Quinley
Part Two of a Two-Part Article
Astonishing computing power lets health care providers harness vast computing resources to drive their business plans, manage treatment protocols and crunch data to boost their practices. However, unintended consequences arise and, in the case of computers, one such consequence is cyber peril.
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The Matrimonial Strategist
Home Insurance May Cover Jealous Husband's Attack on Third Party
Janice G. Inman
A man returns home unexpectedly, finds his wife with another man, and shoots him. It's an unfortunate chain of events, but certainly not unheard of. What is unusual is how the case of a love triangle like this one could lead to an Eleventh Circuit decision about homeowners' insurance.
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Business Crimes Bulletin
Preet Bharara Highlighted Insurance Fraud
Evan H. Krinick
Over nearly eight years as U.S. Attorney for the Southern District of New York, Preet Bharara became recognized as a powerful prosecutor in many areas, including government corruption and white-collar crime. Another subject for which he certainly deserves mention is his strong record helping to fight insurance fraud in New York.
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The Intellectual Property Strategist
Untangling the Mystery of Cybersecurity Insurance
Sean B. Cooney
IT security professionals used to warn that only two types of businesses exist: those that have been hacked, and those that will be. Now, many are even more pessimistic, and divide the world's businesses into companies that know that they have been hacked, and those that don't. Law firms are juicy targets with all the personal identifiable information (PII) contained in client files. Intellectual property practices are especially attractive to cyber thieves because of the value of patent, trademark and trade secret information.
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The Corporate Counselor
Cybersecurity Insurance
Untangling the Mystery
Sean B. Cooney
High-profile breaches have encouraged many businesses to proactively assess their cyber liabilities, and implement prevention and response plans. Fortunately, there are more technology options available to protect businesses than ever before, and both the U.S. government and private industry have made great strides in understanding and combating some of the most common cyber threats.
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Equipment Leasing Newsletter
Creditor Exclusion
The Perils of D&O Coverage
Shmuel Vasser and Yehuda Goor
The U.S. Court of Appeals for the Fifth Circuit recently held that a Creditor Exclusion provision in D&O insurance policies may result in significant limitations on the coverage provided to the D&Os when the underlying dispute is with a creditor acting in its creditor capacity.
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Internet Law & Strategy
Cyberinsurance Considerations for Law Firms
Elizabeth Vandesteeg and Kathryn Nadro
Law firms spend a lot of time and effort to protect their clients' interests, but often overlook routine protection and security of clients' (and their own) data. While not a cure-all for data security risks, one important component to consider in putting together a comprehensive data security program is cyber insurance, as most general liability policies and professional liability policies now expressly exclude coverage for data breach claims.
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Product Liability Law & Strategy
The Bermuda Form
Jared Zola and Lisa M. Campisi
Declaring an Integrated Occurrence (or Not)
Many Fortune 500 companies' product liability insurance programs use the Bermuda Form to insure alleged bodily injury and property damage. The Bermuda Form has many characteristics distinct from standard commercial general liability (CGL) policies. Knowing its intricacies is essential for any coverage lawyer involved in large-scale coverage analysis and disputes.
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