Hardly a day goes by without news of some new cyber-attack. Less reported – but equally as concerning – are coverage denials under cyber-insurance policies for losses that were plainly caused by computer hackers.
For these insureds, who either did not obtain coverage or had to fight to get coverage, they may have felt like they got hacked twice: first by an internet criminal and then next by a coverage denial that obliterated the policy and left them wondering whether they really bought cyber-insurance coverage.
We’ll soon publish a column in The American Land Title Association that reviews the lessons learned from cyber insurance claims. Please come back here in May to learn more.