The Cyber Insurance Imperative

FRENCH FRIED! The E.U.-U.S. Data Privacy Framework has survived its first legal challenge brought by a French parliamentarian who claimed that the current arrangement fails to provide adequate safeguards for European citizens. In this episode, David explains why the current arrangement remains in limbo and how companies can ensure compliance with GDPR during this reprieve. He also discusses the importance of the right policy wording to cover claims against U.S. companies arising under this law.

TAKE ME OUT TO THE BALLGAME! A Major League Baseball team has been hit with a biometric information privacy suit, which also names a private security firm as well as their private equity backers as defendants. In this episode, David discusses the practices that landed the ballclub in hot water, as well as the challenges associated with obtaining coverage for BIPA and other wrongful collection claims in today's marketplace.

BACK TO SCHOOL! As reported by Fox News and other media outlets, a prestigious Ivy League institution has been grappling with the after effects of a data breach impacting hundreds of thousands of students, alumni, applicants, and employees. In this episode, David discusses why higher education is a prime target for hackers, and how colleges and universities can improve their cybersecurity as well as their insurability.

THE SIX MILLION DOLLAR LAWYERS! In this episode, David discusses the recent settlement in the TMX Finance data breach lawsuit, the hazards of litigation facing both plaintiffs and defendants in such cases, and how the right policy wording can make a difference in the availability of insurance coverage to defend and settle such claims.

MOVEIT LITIGATION MOVES FORWARD. In this episode, David discusses a recent ruling slimming down the massive lawsuit against an embattled software developer whose file transfer tool was the target of a 2023 cyberattack. David also breaks down the issues surrounding insurance coverage for the defense of such matters.

UNDERWRITER: HEAL THYSELF. A recent spate of high-profile cybersecurity incidents at insurance companies can leave consumers and businesses wondering how secure their data really is. In this episode, David discusses how Alliant works with its own Financial Institution clients to improve their insurability and cyber maturity.

DIRTY LAUNDRY! A leading bleach maker has sued its cybersecurity vendor following a crippling 2023 cyberattack. In this episode, David discusses what it would take for the plaintiff to pierce through any limitations of liability in the parties' contract, as well as the importance of cyber insurance as a backstop when the best vendor management practices fail.

THIRD PARTY CYBER ATTACKS ARE ON THE RISE! This year's Verizon Data Breach Investigations Report revealed that attacks on service providers doubled as a percentage of reported data breaches. In this episode, David revisits the importance of vendor management and offers some practical tips around contract wording, cybersecurity attestations, and risk transfer solutions.

EL-MORTIFIED! In this episode, David takes a break from discussing Cyber Insurance to speak out against the vile, hateful rhetoric spewed by the hacker who took over Elmo's X account.

GOING DOWN? A recently released report by A.M. Best indicates that Cyber insurance premium volume declined in 2024, but the decline was fuelled by improved pricing rather than a drop in demand for the coverage. In this episode, David discusses another factor in play -- stricter underwriting criteria, and the role of the broker in helping clients enhance their insurability.