Court rules in favor of printer in ransomware case
Recently read a good article at BusinessInsurance.com regarding cyber and data breach exposures. This article talks about a recent court case involving an insurance carrier and the insured (screen printing business). A few key takeaways to consider when accessing your own company's cyber liability exposure:
Coverage terms and conditions vary greatly between insurance carriers
How is hardware and software defined in the insurance policy
If a cyber or data breach attack occurs, do you have coverage for 'direct' and 'indirect' damages?
Indirect damages typically encompass as such things as 'loss of business income'
What policies and procedures are in place to properly and securely collect, store, manage and destroy personally identifiable information (for example in this article, software programs, customer artwork, intellectual property, and other items were impacted from a ransomware attack)
Written by: Judy Greenwald