Ride the Lightning

Update on Suit Against Cyber Insurance Company: Crime vs. Cyber Risk Policies

February 3, 2016

Thanks to Bob Sargent from Tennant Risk Services for writing me a pleasant note clarifying the facts surrounding a recent RTL post.

Here's what he had to say, in part:

"Great blog!  Saw your recent post.

Thought I should point out that the policy in question is not actually a Cyber Risk policy, but a crime policy. We see this quite frequently, and the two should not be confused. The forms are very different and serve different purposes, although there can be a slight overlap in coverage. And there is a bit of a debate among underwriters where the exposure for cyber crime/loss of money should reside. We are strongly on the side of the exposure residing in a cyber risk policy.

You might want to check out a post we did on this subject on our blog here:

http://specialtyinsurance.typepad.com/specialty_insurance_blog/2016/01/cyber-risk-insurance-coverage-is-critical.html

Appreciate your blog."

And I appreciate your thoughtful comment Bob – just one more area of confusion that I am sure is shared by many attorneys. Be sure to read the post above for further edification.

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