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Perspectives on Insurance Recovery Newsletter - Summer 2012 (PDF-7304kb)
UK Supreme Court Pulls Trigger on Asbestos Liability Insurance
Perspectives on Insurance Recovery Newsletter - Summer 2012
Authors:
Raymond L. Sweigart
Perspectives on Insurance Recovery Newsletter - Summer 2012
Authors: David L. Beck, James P. Bobotek, Laura P. Bourgeois, Kimberly L. Buffington, Peter M. Gillon, Vince Morgan, Rene L. Siemens, Raymond L. Sweigart, Robert L. Wallan
This edition of Pillsbury's Perspectives on Insurance Recovery covers the latest developments and trends in cyber-insurance. as well as other issues Pillsbury’s insurance attorneys have worked on and matters of the moment, including insurance issues related to asbestos, construction and other topics.
Cyber Insurance—Mitigating Loss from Cyber Attacks
Source: Perspectives on Insurance Recovery Newsletter - Summer 2012
Authors: Rene L. Siemens, David L. Beck
The market is rapidly growing for insurance that is specifically meant to cover losses arising out of cyber attacks and other privacy and data security breaches. These insurance policies are marketed under names like "cyber-liability insurance," "privacy breach insurance" and "network security insurance." Many companies and other institutions that handle legally protected information now view this kind of insurance as an essential part of their coverage programs.
What if Your Insurer Goes Bankrupt and No One Tells You?
Source: Perspectives on Insurance Recovery Newsletter - Summer 2012
Authors: Laura P. Bourgeois
"Does an insurance broker, after procuring an insurance policy for a developer on a construction project, owe a duty to apprise a subcontractor that was later added as an insured under that policy of the insurance company's subsequent insolvency?"
10 Tips For Buying Cyber Insurance
Source: Perspectives on Insurance Recovery Newsletter - Summer 2012
Pillsbury's tips for reviewing cyber insurance policies—what to look for, ask for and include before you buy.
Public Companies Must Disclose Cyber-Liability Risks
Source: Perspectives on Insurance Recovery Newsletter - Summer 2012
Authors: David L. Beck, Rene L. Siemens
If you thought you did not need cyber insurance before, Uncle Sam may cause you to think otherwise. On October 13, 2011, the Securities and Exchange Commission (SEC) Division of Corporation Finance issued guidance on disclosure obligations relating to cyber security risks and incidents. The guidance, which is based on existing disclosure requirements and is effective immediately, emphasizes the need for SEC registrants to provide "timely, comprehensive, and accurate information about [cyber] risks and events that a reasonable investor would consider important to an investment decision."
California Appellate Court Upholds Trial Court's Dismissal of a Coverage Claim for an Alleged Advertising Injury
Source: Perspectives on Insurance Recovery Newsletter - Summer 2012
Authors: Kimberly L. Buffington
A recent decision in California put a crimp in a rock star impersonator's effort to seek coverage for his liability to the rock star for "trading on his celebrity."
Preparing Your Business for the 2012 Atlantic Hurricane Season
Source: Perspectives on Insurance Recovery Newsletter - Summer 2012
Authors: Vince Morgan
The Atlantic Hurricane Season officially runs from June 1 to November 30, though peak activity usually occurs in August and September.
Given Recent Ruling, Will Negligence Claims Be Covered Under CGL Policies in Virginia?
Source: Perspectives on Insurance Recovery Newsletter - Summer 2012
Authors: Peter M. Gillon, James P. Bobotek
The Virginia Supreme Court recently issued a very troubling opinion for Virginia-based policyholders. In AES Corp. v. Steadfast Insurance Co.,1 the court held that when a lawsuit alleges that a company engaged in an intentional or volitional act where (i) it subjectively intended or anticipated the result, or (ii) the result was a natural or probable consequence of the intentional act, that company is not entitled to a defense or indemnity under its commercial general liability insurance coverage because a covered "occurrence" has not been alleged.

