Sony’s cyber liability claim may not be covered

In the wake of a massive data breach, entertainment giant Sony is turning to its insurers for help with the cost. A group of anonymous hackers overwhelmed Sony’s security late last month, stealing valuable customer information. Only two weeks after the initial attack, they struck again, getting their hands on even more data. To date, more than 100 million users of Sony’s online gaming and market platform have been affected, causing an estimated $2 billion worth of damages. The corporation has a multitude of insurance companies at their disposal and…

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Companies that don’t carry cyber liability better think again…

As the world continues to become increasingly reliant on technology, a new breed of threat has emerged. The Internet is rife with scams and a vast array of dubious activities. It is also home to some of the most skilled and tenacious hackers. This fact has led many insurance companies around the U.S. to start offering insurance protection against what they are calling “cybercrime.” The majority of these policies are tailored for big companies, but they have not received the interest insurers thought they would. Cybercrime is a real issue,…

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