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The frequency and variation of cyber-attacks has risen to unprecedented levels with a third of UK businesses reporting breaches or attacks at least once a week.

Cyber incidents include ransomware, malware, third party and supply chain attacks, hacking and phishing incidents as well as IT failures and losses arising as a result of human error.

Cyber risk insurance policies are rapidly evolving to respond to (or exclude) newly emerging threats however, the standardisation of such policy wordings has not followed at the same pace.  The result is that disagreements regarding the scope and meaning of cover are common and there has been an increase in claim denials as insurers adopt arbitrary and, as yet, untested interpretations of policy terms.

Cyber risks can result in a number of different losses such as:

  • Property damage losses – repair, notification, third party claims and fines;
  • Business interruption losses;
  • Data breach losses; and
  • Crime loss – theft, ransom, misappropriation of monies.

Edwin Coe’s experienced team of commercial and insurance lawyers act predominantly for policyholders providing comprehensive legal support, advice and representation in relation to losses and complex policy coverage issues arising from damage to or the loss of information from IT systems and networks as a result of data theft, network outages, malware, fraud and human error.

We understand that most clients would prefer to resolve a dispute without resorting to litigation and our team has particular expertise in bringing about early resolution of matters with a focus on achieving cost effective and commercial outcomes for our clients utilising all forms of alternative dispute resolution.

In the cyber arena, claims and policy coverage issues can take many forms and Edwin Coe has vast experience representing and advising clients in relation to:

  • Claim presentation, analysis of cyber cover and assistance with recovery of cyber losses under various policies;
  • Claims for business interruption losses following network down time;
  • Cyber policy interaction with other insurance policy cover/silent cyber risks;
  • Third party losses including loss of data, breach of confidentiality and/or intellectual property infringement;
  • Underinsurance; and
  • Professional negligence claims against insurance intermediaries such as insurance brokers.

Contact our Insurance Litigation Team
telephone: 020 7691 4000
or email: enquiries@edwincoe.com

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They've been doing it for longer than anyone else, and they have a phenomenal success rate.
Chambers Directory 2014
They've been doing it for longer than anyone else, and they have a phenomenal success rate.

Chambers Directory 2014

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Insurance Litigation

Cyber Losses and Insurance

Cyber risks are one of the most significant risks facing UK businesses today with cyber-attacks continuing to grow in both frequency and scale. Cyber risks include denial of systems and networks by means of human, natural or viral intervention in addition to data lost through error or theft. Cyber losses often pose complex insurance coverage and recovery issues for which specialist insurance advice is required. Edwin Coe’s experienced team of insurance lawyers act predominantly for policyholders representing corporate policyholders, SMEs, their officers and directors, and other individuals across all industry groups in connection with insurance issues and claims. Our lawyers have expertise advising policyholders in relation to losses and policy coverage issues arising from damage to or the loss of information from IT systems and networks as a result of data theft, network outages, viruses and fraud.

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