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BT Policyholder Protection Blog
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25 Apr 2016 Scott Godes quoted in Legaltech News Article “Cyberinsurance: A Necessary Protection in the Digital Era?”

Scott Godes, partner and co-chair of the firm’s Data Security and Privacy Practice Group, was recently quoted in a Legaltech News article, “Cyberinsurance: A Necessary Protection in the Digital Era?”   Between 2005 and 2015, more than 5,000 must-report data breach incidents were tracked; and since 2002, breach notification laws have been enacted in 47 states. Given the rising number of breaches and response costs, companies are turning to cyberinsurance for remediation.   Scott is quoted numerous times within the article, including one note stating, “A data breach, and several courts have agreed, particularly when the information is put online, involves the publication of materials that violates a person’s right to privacy. And yet, notwithstanding this good case law, for policyholders, insurance companies continue to…

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29 Mar 2016 Recent Presentations Demonstrate Importance of Choice of Law

  The law that applies to an insurance contract can be very important. I recently presented on this important fact during a Feb. 17 Minnesota CLE webinar entitled, “Insurance Coverage for Punitive Damages in Minnesota,” and on Feb. 20 at the ABA Insurance Coverage Litigation Committee’s mid-year meeting on “Insurance Transfer in Asset Deals/Stock Deals.” While on their face these two presentations appear to be very different, what struck me was the overriding fact that the outcome of a coverage dispute involving either issue would depend heavily on what state’s law applied.   When dealing with coverage for punitive damages, the states are split on whether, as a matter of public policy, a policyholder should be allowed to obtain coverage for punitive damages awards. The…

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25 Mar 2016 Are You Prepared for a Natural Disaster? Five Tips for Preparing for a Natural Disaster

  Spring is here, which means natural disaster season is here as well. While spring brings a welcome change in the weather in many areas of the country, it often also brings floods, tornados, hurricanes and other disasters that can cause substantial property damage and business disruption. Now is a good time for policyholders to make sure they are as prepared as they can be in the event of an unexpected property loss. Addressing a few basic but sometimes overlooked issues before being thrust into the chaotic aftermath of a natural disaster can go a long way toward making the insurance recovery process more efficient.   Review and understand your policies. Do you know where to find your company’s property insurance policies when you really need…

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24 Mar 2016 Will The Fourth Circuit Overturn a Decision Finding CGL Coverage For a Data Breach?

  As reported by Law360’s Jeff Sistrunk, this week, the Court of Appeals for the Fourth Circuit will hear appellate arguments as to whether a Commercial General Liability (CGL) insurance policy provides coverage for a data breach:   The Fourth Circuit will hear arguments Thursday on whether Travelers must defend a medical records company against a class claim that its failure to secure a server caused records to be accessible to unauthorized users, a case experts say will have an impact on the availability of data breach coverage under commercial general liability policies.   Policyholders should hope that the Fourth Circuit’s rate of reversal – reported to be 4.2 percent for “Other U.S. Civil” and 7.3 percent for “Other Private Civil” cases – will give…

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16 Mar 2016 Scott Godes Quoted in Law360: Insurance Article “Data Breach Report Shows Cyberinsurance Not A Cure-All”

  Scott Godes, partner and co-chair of the firm’s Data Security and Privacy Practice Group, was recently quoted in a Law360: Insurance article, “Data Breach Report Shows Cyberinsurance Not A Cure-All.”   The article discusses how companies are managing cyber risks and turning to cyberinsurance policies to handle data breaches.  The article highlights a recent study discussing the size and scope of common data breaches and whether cyberinsurance policies would respond to such incidents.   Scott is quoted in the article saying, “There are some policies that have a retention or deductible that can be significantly lower for the costs of forensic investigation, breach letters or crisis management than the deductible for putative class actions and dealing with regulatory investigations.”   Read the full article here….

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15 Mar 2016 Capitalizing on Sites with Environmental Property Damage: Is there really a pot of gold at the end of that rainbow?

  When a company learns that it has a site suffering from environmental property damage, “profit” is the last thing on that company’s mind. Rather, the terms that company is more likely thinking about in this situation are those like losses, risk, environmental agency scrutiny, costly and lengthy remediation, bad press, etc. A recent article in the New York Times titled “Turning Polluted Properties Into Profits” takes an alternative view of the value of sites with environmental property damage.   The article discusses a new business model and group of investors who are actively seeking out these properties in order to buy them, clean them up, then sell them for a profit. However, as the article noted: “insurance is key.”   Finding insurance to help…

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07 Mar 2016 Join us: Insurance Considerations in Mergers and Acquisitions

  Mark your calendar and join us for an insurance webinar on Wednesday, March 16 at 3 p.m. (Eastern) to help your company identify and navigate important insurance coverage issues in M&A deals. Reflecting the collaboration that is valuable in many transactions, attorneys from our Insurance Recovery and Counseling Practice Group are teaming up with our corporate attorneys for this online roundtable and live Q&A.   Topics will include: Buyer’s Insurance Due Diligence: How a buyer can assess the seller’s insurance coverage program, as well as its own. M&A Contract Terms Relating to Insurance: What coverages the parties will require and the wording of those requirements in the agreement. Underwriting and Modification of Insurance to Accommodate the Deal: What the buyer or seller may want…

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03 Mar 2016 Sing The Jingle: Four Tips Inspired By Insurance Ads

  Advertisements for auto and homeowners insurance have become ubiquitous, and their humor often ranges from irritating to clever. You can probably hear one in your head right now. That humor is apparently intended to be the spoonful of sugar to help the medicine go down; valuable messages about insurance are sometimes conveyed subtly but effectively. As an insurance coverage lawyer, also known as a geek, I see how some of that information also can be useful in the business insurance context.   Double Check Your Coverage Before and After You Buy   Fifteen minutes may save you 15 percent (or more). Make sure you’re actually covered for “this” rather than “this.” The point is that your insurance program needs your time and attention. When…

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15 Feb 2016 Scott Godes Quoted in Law360: Insurance article “Data ‘Privacy Shield’ Spurs Need for Cybersecurity Coverage”

  Scott Godes, partner and co-chair of the firm’s Data Security and Privacy Practice Group, was recently quoted in a Law360: Insurance article, “Data ‘Privacy Shield’ Spurs Need for Cybersecurity Coverage.”   The article talks about the recent “Privacy Shield” data transfer mechanism agreed to by European and U.S. officials and how it may have companies closely watching their insurance policies. The article discusses changing privacy risks and raises questions about insurance coverage for the evolving risks.   Scott is quoted multiple times in the article, including one note stating, “Policyholders should evaluate their regulatory coverage overall and be thoughtful about the coverage afforded under those policies. They should be thoughtful about the Privacy Shield and whether investigations and claims related to the new requirements…

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29 Dec 2015 Barnes & Thornburg Named an Insurance Practice Group of the Year by Law360

Barnes & Thornburg LLP’s insurance practice has been named a 2015 “Practice Group of the Year” by Law360. An article featuring the firm’s Insurance Recovery and Counseling group will be published by Law360 on January 5. The group represents corporate and individual policyholders in analyzing and enforcing their rights under property and liability insurance policies and in disputes with their insurance companies.   “It is an honor for us to be recognized with this award,” said Charles P. Edwards, co-chair of the practice group. “It has been a big year for our attorneys, who have worked tirelessly to help our clients achieve positive outcomes.”   Law360 selects winners based on the significance, size and complexity of the litigation wins or deals. In 2015, lawyers in…

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