Corporate Governance » Update On Cyber And Reputational Insurance

Update On Cyber And Reputational Insurance

March 2, 2015

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.

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