Scott Godes, partner and co-chair of the firm’s Data Security and Privacy Practice Group, was recently quoted in Law360’s article, “4 Insurance Takeaways from Lloyd’s Cyberattack Report.” Lloyd’s of London recently co-wrote a report predicting that a major cyberattack on the East Coast could trigger $70 billion in covered insurance claims. The article examines four takeaways for insurers and policyholders. Godes noted that the report admits there could be coverage for cyber-based events in multiple types of insurance policies. He also suggests that the insurance industry should introduce a cyberinsurance policy parallel to a commercial package policy, providing coverage for all types of losses resulting from a cyber event. He is quoted multiple times in the article. In one, he is quoted saying, "Rather than picking and choosing coverage based on slivers of losses, there should be a broad package that can provide policyholders the peace of mind they need in the event of a major cyber incident.” To read the full article, click here.
Scott Godes Quoted in Law360 Article, “4 Insurance Takeaways from Lloyd’s Cyberattack Report"
July 14, 2015 | cyberinsurance