Category Archives: liability

Who Is Legally Responsible for a Cyber Incident?

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After a company discovers a cyber attack on its network, the finger-pointing begins. The CEO blames the chief information security officer (CISO). The CISO blames the financial officers for not setting aside enough money for cyber defenses. The chief information officer begins to look for a scapegoat further down the supply chain. Maybe they fire […]

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Cyber Insurers Might Be Making the Ransomware Problem Worse

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In mid-May, one of the largest insurance companies in the U.S. paid $40 million to ransomware attackers. Two people familiar with the matter told Bloomberg that the malicious actors stole an undisclosed quantity of data and then effectively locked the insurer out of its network for two weeks. The company ignored the attackers’ demands at […]

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CEOs Will Be Personally Liable for Cyber-Physical Security Incidents by 2024

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Digital attack attempts in industrial environments are on the rise. In February 2020, IBM X-Force reported that it had observed a 2,000% increase in the attempts by threat actors to target Industrial Control Systems (ICS) and Operational Technology (OT… Continue reading CEOs Will Be Personally Liable for Cyber-Physical Security Incidents by 2024→

Texas Court Backs Phishing Attack Insurance Claim

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Are insurance companies bound to pay claims for phishing attacks resulting in third-party losses? RealPage, a Texas-based company, operated a rent-servicing portal whereby renters could pay their rent and landlords could get paid (minus, of course, a … Continue reading Texas Court Backs Phishing Attack Insurance Claim→

SAFETY Act: A Safety Net for Companies Using ‘Terrorism Certified’ Technologies

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In the wake of the attacks on Sept. 11, 2001, Congress enacted the SAFETY Act, which, among other things, encouraged the development of new “anti-terrorism” technologies by giving those developers immunity from civil liability if their approved techno… Continue reading SAFETY Act: A Safety Net for Companies Using ‘Terrorism Certified’ Technologies→

Hackerspaces are Hard: Insurance

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Do you dream of opening a hackerspace, makerspace, or co-working space? Maybe it’s in the works and you’re already scoping out locations, intoxicated by visions of all the projects that will emerge from it. Here’s a sobering thought: makerspaces are a great big pile of risk. If the doors of your ‘space are already open, perhaps you’ve come to realize that the initial insurance policy you signed doesn’t really fit the needs of your particular creative paradise. Even if it does, the protection you need will change as you acquire new toys.

So why should you even get insurance? For …read more

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