Jenner & Block

Insurance Law Update: "Where to Look for Insurance for Cybersecurity Risks"

High-profile examples of cybersecurity-related liability have proliferated in headlines and courtrooms in just the past year alone.  Target Corporation’s board of directors is now facing shareholder derivative lawsuits related to the company’s massive data breach last year.  Wyndham Worldwide Corporation is the target of a Federal Trade Commission enforcement action and a recent derivative lawsuit against its directors and officers in connection with several data breaches the company sustained.  And, since 2011 when it issued guidance on cybersecurity disclosures, the Securities and Exchange Commission has continued to heighten its review of such disclosures for public companies from all industries.