Companies purchasing new insurance coverage or renewing existing insurance policies often have more power than they might realize to improve their insurance policies. Before coverage is bound, insureds may have leverage to negotiate with insurers for more favorable policy terms, conditions, and exclusions. Here are just four areas that potential insureds should consider before a policy is issued.
Insurance Coverage for GDPR Exposures
At long last, the GDPR effective date is only weeks away. As companies continue to work towards compliance, many are realizing that despite their best efforts, the odds of achieving and perpetually remaining in 100% compliance are slim to none.
As with any massive compliance undertaking, mistakes and missteps related to GDPR requirements are inevitable, especially in a world where data volumes, connectivity, mobility, and risks continue to increase. Given this reality, companies should think long and hard about transferring some of their GDPR-related risks through insurance. [Read more…]
Five Things Every Risk Manager Should Know about Transaction Liability Insurance
Terrific post by Anderson Kill attorneys about Transaction Liability Insurance. Deal makers take note!
Year in Review: Notable Insurance Coverage Developments of 2017
In this must-read article, Hunton & Williams attorneys provide an overview of some of the most important insurance coverage cases from 2017.
Some Decisions Policyholders Can Be Thankful for this Year
Policyholders had some very big wins in coverage cases so far this year. Here’s a summary of some of the most important decisions:
Following Sony, Florida Federal Court Finds No Personal Injury Coverage for Data Breach Claim
On November 17, 2017, a federal district court in Florida granted summary judgment in favor of Hanover Insurance Company (the Insurer) relating to a data breach suffered by Innovak International Inc. (the Insured). Innovak International Inc. v. The Hanover Insurance Company, Case No: 8:16:cv-2453-MSS-JSS, U.S. Dist. Ct., Mid. Dist. FL (November 17, 2017). [Read more…]