Update On Cyber And Reputational Insurance

Insurers are rapidly eliminating cyberbreach coverage from corporate general liability policies, and last year the Insurance Services Office (ISO) added a data breach exclusion to the standard CGL form. That’s one of the key developments reported in a Perkins Coie update that looks at emerging cybersecurity and “reputational” insurance issues. On the other hand, most D&O policies in the context of a shareholder derivative suit following a data breach do not, at this point, have any such exclusion. In another development, the rapid spread of information on the Internet has created a new kind of reputational risk, and with it some new insurance products to address it, for a price.