Articles and Speeches
Slaying the Dragon: Risk Managers Struggle and Succeed
in Placing Cyber Coverage, Risk & Insurance
March 2, 2016
David F. Katz
In an article published in the March edition of Risk & Insurance, Atlanta partner David Katz provides insight on the growing market for cyber insurance coverage in the face of increased data security breaches. Mr. Katz notes that he regularly works with in-house counsel on choosing the proper coverage. “One key area is coverage of first-party or third-party claims,” says Mr. Katz. A company must be aware of what the policies covers. “For example, does the policy cover only damage to the insured or does it also cover damage a breach causes to third parties, or damage to the insured caused by an incident at another entity, such as a vendor?” Timely and proper notification of the breach to the carrier is also important, Mr. Katz notes. “Failure to follow the policy’s set notification procedures and communicate correct information could harm a company’s ability to successfully pursue a claim or defend its reputation.”
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