Cyber Insurance

Introduced in the late 1990s, cyber insurance was quickly seen as a product with virtually unlimited sales potential, leading to a feeding frenzy of marketing and sales. The product was so profitable and successful that Lloyd’s of London once proclaimed that, “cyber insurance sales would save the organization.” A “ransomware epidemic” changed all of that. In 2020, profit margins for cyber insurance plummeted, and cyber insurance claim denials quickly followed.

Latest Results

$10.6 Million Ransomware Attack

Settled ransomware claims for international private investment firm under a series of separate portfolio company cyber insurance policies.

$6 Million Ransomware Attack

Obtained coverage for First Party losses, government investigations and ransom payment under cyber insurance policies for company acquired by merger during pendency of cyber-attacks.

$3 Million Dependent System Failure Claim

Obtained coverage through mediation where company operations were impacted by a ransomware cyber-attack on one of its business suppliers.

Loss of Client Data Claim

aggressively pursuing coverage for a multinational software company to recover losses under its cyber policy for damages incurred as the result of a cyber-attack that caused the disclosure of confidential customer data.