Prompt Notification of Cyber Insurers Can Mitigate Effects of Hacker Attacks
Cyber Liability Insurance attorney Thomas Bentz was quoted in a Business Insurance article about certain considerations cyber insurance policyholders should be aware of when dealing with a cybersecurity attack. The article details the claim submission process, including the importance of promptly contacting the insurer, as well as how the insurer will proceed following the incident report. Mr. Bentz noted that while cyber policies have been available for more than 20 years, there has been relatively little litigation over the coverage, so there are few guiding precedents. Furthermore, because of confidentiality provisions, it is unknown how many cases are settled.
“I haven’t seen a ton of disputes over the coverage from the cyber forms,” he said.