Law360
April.02.2013
This article, which provides suggestions for data-breach coverage policyholders, quotes insurance partner Rich DeNatale.
DeNatale stated that businesses that already have cyber policies should keep in mind that defense costs often count toward the policy limits, whereas the same isn't true for most general liability policies.
"You should really try to develop a good working relationship with your insurer," DeNatale said. "Keep them informed."
In addition, DeNatale stated that insurers providing data breach coverage often require written consent for many expenses, as well as the cost of hiring forensic consultants to determine the source of the breach, which can be the single largest expense, provided the policyholder isn't hit with a class action.