The Policyholder Informer blog of the insurance coverage and insurance recovery practice of my firm, Dickstein Shapiro LLP, is featuring my post, “The Alleged LivingSocial Hack and Data Breach Highlights Importance of Insurance for Cyberrisks.”
The introduction to the post reads:
On April 26, 2013, there were reports that LivingSocial had been hacked and suffered a data breach. A page on LivingSocial’s website stated: “The information accessed includes names, email addresses, date of birth for some users, and encrypted passwords — technically ‘hashed’ and ‘salted’ passwords.” CNNMoney reported that data for more than 50 million customers may have been accessed. With similar data breach events taking place seemingly with more frequency, it is critical that entities understand whether they have insurance that provides coverage for such risks.
The post provides details of insurance coverage for data breaches and hacks. It discusses cyberinsurance, crime insurance, CGL insurance, and other insurance policies, and whether and how they could provide insurance for data breaches. Please check out the entire post by clicking here.
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