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You are viewing ARCHIVED CONTENT released online between 1 April 2010 and 24 August 2018 or content that has been selectively archived and is no longer active. Content in this archive is NOT UPDATED, and links may not function.Extract from article by Thomas H. Bentz, Jr., and published by Bloomberg BNA
Many companies purchase cyber liability insurance to help cover their risk of computer fraud or attack. However, if not properly negotiated, some cyber insurance policies may not fully protect against all risks.
A common and potentially costly issue in many insurance policies is a lack of coverage for “voluntary transfers” (i.e., where the insured is tricked into voluntarily transferring money to a third party). Coverage for this type of fraud is generally available but insureds need to ask for it.
In the past few years, many companies have purchased cyber liability insurance to help cover their risk of computer fraud or attack. However, if not properly negotiated, some cyber insurance policies may not fully protect against all risks.
Read the complete article at How Can That Not Be Covered? I Have Cyber Insurance!