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.
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.
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.
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.
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.
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
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.
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.
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.
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.