Ransomware has become a commonplace risk to businesses of all sizes over the last few years, and shows no signs of abating. In an article for Westlaw Today, Partner Peter A. Halprin and Associate Nicholas A. Pappas, discuss issues surrounding insurance coverage for ransomware, including the Indiana Supreme Court’s ruling in G&G Oil, the “war” exclusion ruling, and OFAC and DFS guidance on ransomware payments.
The authors explain that ransomware insurance coverage likely derives from cyber insurance, but that coverage also may be available under a number of other policies, such as crime, kidnap & ransom, property, and technology errors and omissions.
“Given the prevalence of ransomware attacks, businesses of all sizes should carefully review their insurance assets to understand how and where insurance can provide assistance,” wrote Halprin and Pappas.
Read the full article here.