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U.S case Law continues to be set over cyber insurance. As a Washington Judge rejects an insurers bid to terminate a lawsuit over a cyber event at a Seattle logistics company, Radiant. Radiant is a U.S public firm with facilities across the U.S and a strong presence in the APAC region.
Radiant’s claim is that its cyber insurer Crum and Forster failed to honor the insurance contract, in not providing full claims against the policy limits. During the course of the cyber incident it is reported that the insurer paid $889,000 for legal and incident response services.
The issue appears to be one of policy wording and what part of a policy was claimed against. One wonders how this will playout, as a further example of caselaw that builds up a better picture of cyber insurance policy wording and claims.
Ted Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA Bob Dix
#cybersecurity #cyberriskmanagement #cyberinsurance #caselaw
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