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Insurance Coverage Disputes over Data Breaches
Each day, businesses become progressively more dependent on computers and the Internet to gather, store and protect information. But, as sophisticated as this technology may be, it has also proven to be susceptible to breaches, which have time and again resulted in the unauthorized access of confidential information.
These breaches can be incredibly costly to companies. According to a recent study by Symantec, the average total organizational cost of a data breach to a U.S. company has reached a staggering $5,403,644. See, http://bit.ly/UAbyLI. And, as in the case of the recent Target breach, many millions of individuals have potentially had their personal information compromised, so the cost of a data breach may be many times the Symantec average.
As more companies have experienced data breaches, we have seen an increasing number of disputes over whether insurance policies will help pay for them. In this article, we have compiled cases that have addressed (or are addressing) coverage for these breaches and have divided those cases into three categories: decided, settled and pending. As set forth below, many (but not all) of these cases have focused on whether the breached data was covered property, whether there had been a “personal or advertising injury,” or whether the policyholder's conduct was intentional.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?