Recent Posts
Follow Us
twittergoogle_pluslinkedinrssyoutube
The Legal Stuff
BT Policyholder Protection Blog
0 0

03 May 2017 The Cloud: Selected Benefits, Risks, and Insurance Coverage Issues (Part 1)

  By Scott Godes, Kara Cleary and Heidi Fessler   The reality that business data of all kinds is now stored, managed, accessed and maintained in the cloud is inescapable. The reasons for this migration of data from within an organization’s network computing system to a vended cloud provider are infinitely varied. In this two-part series, we will explore the benefits, risks and insurance coverage issues associated with the cloud.   Whatever the reason fueling the migration of data, one thing is certain – coupled with the movement of data and the use of cloud services is the introduction of additional risk. It’s true that many companies will actually improve the security of their data by shifting to the cloud. In many cases, companies are…

READ MORE
0 0

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….

READ MORE
0 0

20 Aug 2015 What Insurance Should Cover Target’s Visa Settlement?

Two years later, and the Target data breach continues to make headlines.   Does anyone need to be reminded that Target suffered a data breach in 2013? Seeing that the breach continues to be litigated and settlements continue to be announced with payment card brands, it is difficult to forget the incident.   Most recently, Target announced that it had reached a settlement with Visa.[1] According to reports, Target could “pay as much as $67 million to banks that issue Visa cards.”[2] Target’s earlier $19 million settlement with MasterCard[3] ended up being scuttled; Target and MasterCard reportedly are working on another resolution.[4]   What is Target settling?   Target’s settlement with Visa likely is to resolve the alleged damages resulting from Target’s payment card breach….

READ MORE
0 0

20 Apr 2015 Will Cyberinsurance Cover Target’s $19 Million MasterCard Settlement?

Another credit card in the mail? If you’re reading this post, you’ve probably received a new credit or debit card in the mail, attached by rubber cement to a cover letter explaining that your card number could have been compromised – so you ended up with replacement cards. You might even have received new cards more than once over the past five years. Perhaps you even received a new card with an explanation that after the data breach at Target Corporation, your “issuing bank” – the bank that issued you the credit or debit card – decided to send you a new card. And maybe you signed your card, called to activate it, replaced your old card, and didn’t give a second thought to it….

READ MORE
0 0

25 Mar 2015 Scott Godes Quoted in Cyber Risk Network’s article, “10 million settlement with consumers a ‘good deal’ for Target, insurers”

Scott Godes, partner and member of the firm’s Policyholder Insurance Recovery Group, was recently quoted in Cyber Risk Network’s article, “10 million settlement with consumers a ‘good deal’ for Target, insurers.”   In a recent class-action lawsuit, Target Corp and consumers have agreed to a $10 million settlement after a data breach during 2013.  Consumers now will have to demonstrate harm by documenting direct losses from the breach, such as cost to replace identification.   Among other things, Scott is quoted saying, “The settlement should do nothing to consumers’ ability to prove harm and/or damages. The case never made it to a stage where there was showing of actual harm. At this point, there were only allegations of harm. The fact the case settled should…

READ MORE
0 0

09 Jan 2015 2014 Year in Review: A National Insurance Recovery Webinar

Mark your calendar and join us for a national insurance recovery webinar on Tuesday, Jan. 27 at 3 p.m. (Eastern). The Barnes & Thornburg insurance recovery attorneys will review 2014’s major legal developments and trends in insurance coverage and recovery. You will learn more about how the events of the past year affected:   Directors and Officers (D&O) coverage Excess umbrella liability coverage Coverage for business torts and consumer false advertising claims Coverage for environmental contamination claims Cyber liability and data breach   BARNES & THORNBURG SPEAKERS             Charlie Denton   Bob Devetski   Charlie Edwards   Scott Godes            Ken Gorenberg   Chris Lynch   David Schack You won’t want to miss this lively discussion of…

READ MORE