{"id":207,"date":"2015-03-03T21:46:16","date_gmt":"2015-03-03T21:46:16","guid":{"rendered":"https:\/\/www.bowditch.com\/campuscounselnewengland\/?p=207"},"modified":"2020-07-31T13:28:01","modified_gmt":"2020-07-31T13:28:01","slug":"what-directors-officers-need-to-look-for-in-insurance-coverage-for-cyber-liability","status":"publish","type":"post","link":"https:\/\/www.bowditch.com\/campuscounselnewengland\/2015\/03\/03\/what-directors-officers-need-to-look-for-in-insurance-coverage-for-cyber-liability\/","title":{"rendered":"What Directors & Officers Need to Look for in Insurance Coverage for Cyber Liability"},"content":{"rendered":"

by: Mary-Pat Cormier & Jennifer Garner<\/p>\n

This month, we published an article entitled \u201cA Directors and Officers \u2018Cheat Sheet\u2019 on D&O Cyber Insurance<\/a>\u201d on BoardMember.com. You can read the entire article HERE<\/a>.<\/p>\n

We were spurred to write it by a recent study reported in the WSJ that found that \u201cinsufficient preparation to manage cyber threats\u201d was among top five concerns \u201c\u2019significantly impact[ing]\u2019\u2026 organizations this year.\u201d This is not surprising, considering that data breaches saw an all-time high in 2014, affecting nearly half of U.S. adults.<\/p>\n

<\/p>\n

Increasing cyberrisks have resulted in litigation, including derivative suits against directors and officers for alleged shortcomings in conduct relating data breach prevention, investigation, disclosure, and remediation. Everyone knows that directors and officers need to ensure that a company is \u201ccyber resilient,\u201d including whether the company needs and has insurance for a cyber breach. But they should also be vigilant about their own liability coverage for cyber risks.<\/p>\n

With dozens of carriers offering insurance for virtually every type of cyber threat, the options are dizzying and a company may wind up paying for coverage that doesn\u2019t completely cover its (or its executives\u2019) exposure. If coverage for a data breach claim isn\u2019t covered on a D&O policy, executives should ensure that the claim is covered, in as broad terms as possible, under another policy provided for data breaches.<\/p>\n

Our article\u00a0on BoardMember.com<\/a>\u00a0gives directors and officers a practical guide for the sort of coverage issues that should concern them.<\/p>\n

Mary-Pat Cormier is a partner at the Boston law firm of Bowditch & Dewey. She focuses her practice in the area of financial services and securities litigation, including disputes arising out of both coverage and bad faith claims handling against professional and specialty lines liability carriers, banking, creditors\u2019 rights, and limited partnership disputes. <\/em><\/p>\n

Jennifer Garner is an associate and concentrates her practice in all aspects of civil litigation. She advises clients on a wide range of matters involving business, construction, employment, and insurance defense disputes.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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