The availability of new forms of cyber coverage to address losses arising from data loss and hacking incidents is costing the US economy close to $1 billion/year as a result of cyber losses; insurance can help with those costs.
What core concepts will be addressed?
• Critical Infrastructure – Cyber Warfare and/or Terrorism
oCan property damage and bodily injury be addressed from an electronic attack?
oHow can financial loss from a network interruption be addressed?
• Cloud Computing – Data Aggregation
oCan insurers and reinsurers overcome aggregation risk?
• Reputational Risk
oHow to value and insure a company’s reputation from a cyber event?
• What traditional forms of insurance coverage may respond to cyber losses and data breaches?
• What new forms of insurance coverage may respond to cyber losses and data breaches?
Key Learning Objective:
To obtain an understanding of the exposures raised by cyber hacking and data loss, and also the compliance requirements following such events, and how insurance coverage can potentially reduce losses and exposures.
About the Presenter:
Matthew L. Jacobs has been successfully litigating insurance coverage matters for more than 25 years, and he handles complex, multi-party insurance coverage matters in state and federal courts. He obtained a ruling of first impression under Virginia law from a federal district court in 2012 regarding the issue of exhaustion of underlying insurance limits. He also recently recovered $15.5 million for a client following a two-day mediation over a large contingent business interruption claim related to the October 2011 Thai floods. Corporations seek his counsel on the availability of insurance coverage for a wide variety of claims, ranging from directors and officers liability to business interruption losses, product liability and regulatory investigations and environmental matters. He also regularly advises Fortune 500 companies in the placement and renewal of various types of insurance coverage, including directors and officers policies and cyber insurance.
Mr. Jacobs is a member of the No. 1 Insurance Policyholder Practice in the United States in 2013 as recognized by Chambers USA. He has been recognized by clients and peers in Chambers USA Client’s Guide for Insurance and the Legal Media Group’s Guide to the World’s Leading Insurance and Reinsurance Lawyers. In 2010, he was recognized as “Author of the Year – Insurance USA” by the Lexology Legal Writing Awards. He has been named a 2013 Washington, D.C. “Super Lawyer,” and among Washington, D.C.’s “Best Lawyers.” Mr. Jacobs is AV Preeminent Peer Review Rated in Insurance Law, Martindale Hubbell’s highest recognition for ethical standards and legal ability. He is a member of the Editorial Advisory Board of the Environmental Claims Journal and has been a member of the Insurance Editorial Advisory Board of Law360.
Mr. Jacobs is a member of the firm’s Insurance Litigation and Counseling, Reinsurance, Antitrust and Competition Law and International Arbitration Practices. He is a member of the firm's International Committee and was a member of the Business Development and Marketing Committee for three years. He has published and lectured widely on insurance coverage topics and has been quoted extensively on developments in insurance law in national publications, television and radio. He is the author or co-author of more than 50 papers and articles and has spoken at more than 100 insurance coverage conferences. He also has co-chaired over a dozen conferences addressing various insurance topics over the past two decades. Mr. Jacobs also has appeared on the faculty of the ALI-ABA Environmental Litigation Course of Study, as well as the ALI-ABA Environmental and Toxic Tort Conference.
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