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Full-Text Articles in Insurance Law
Notpetya, Not Warfare: Rethinking The Insurance War Exclusion In The Context Of International Cyberattacks, Katherine S. Wan
Notpetya, Not Warfare: Rethinking The Insurance War Exclusion In The Context Of International Cyberattacks, Katherine S. Wan
Washington Law Review
When an insurer wants to avoid coverage of a specific type of loss, it must explicitly exclude the loss in its policy. The war exclusion is a typical exclusion found in insurance policies that excuses insurers from covering losses caused by war or warlike actions. Courts interpreting the exclusion have traditionally held that war must consist of hostilities between sovereign nations. Despite the rise of state-sponsored cyberattacks, the United States has been hesitant to officially declare war in response. Even still, insurers argue that their war exclusions should apply to these new cyber losses. Courts are now tasked with reanalyzing …
Cyber Insurance Today: Saving It Before It Needs Saving, Angela Nieves
Cyber Insurance Today: Saving It Before It Needs Saving, Angela Nieves
Catholic University Journal of Law and Technology
Cyber insurance, which covers a company’s losses and costs stemming from a cyberattack, represents a nearly $5 billion global market. But have stakeholders shaped a sustainable model? This article analyzes contrasting claims about the viability of cyber insurance. It proposes measures to ensure the survival of the cyber insurance market, which should be immediately addressed given the current state of the world and the fact that even pre-COVID-19, businesses worldwide stood to lose over $5.2 trillion over the next five years due to cybercrimes. Unless action is taken to mitigate the fallout from cyber events, the cyber insurance market will …
Phishing For Computer Fraud Insurance Coverage, Stephen Swanson
Phishing For Computer Fraud Insurance Coverage, Stephen Swanson
Georgia State University Law Review
Accordingly, the following note discusses the disparity between the federal circuit courts regarding the proper insurance coverage for phishing-type attacks. Part I examines the cyber threats companies face when handling sensitive transactions and customer data, as well as the coverage gap between traditional crime insurance policies and the targeted cyber insurance policies that help prevent, detect, and ultimately mitigate the damages resulting from a cybersecurity breach. Part II analyzes the current circuit split and the various contract interpretation strategies, policy considerations, and tests employed in reaching a coverage decision. Part III proposes a resolution to the overarching circuit split that …