A recent survey of general counsel reported that “Data protection, security and privacy, emerging data types and intellectual property loss were identified as top concerns that have intensified due to the events of 2020.” In an article for the International Institute for Conflict Prevention & Resolution, Partner Peter A. Halprin said the good news for general counsel is that they are not alone in staving off these challenges, and in fact, the proliferation of specialized cyber insurance coverages—including those covering statutory privacy liability—has provided risk management opportunities for businesses to protect their bottom lines.
Halprin noted that while many of these coverages, and the associated legal issues, had been relatively untested in the courts to date, a pair of recent state Supreme Court decisions (West Bend Mutual Ins. Co. v. Krishna Schaumburg Tan Inc., et al. and G&G Oil Co. of Indiana, Inc. v. Continental Western Ins. Co.) on these issues should provide some comfort to businesses that their insurance will be there for them when called upon.
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