As the demand for insurance coverage for cyber-related losses continues to grow, more insurance companies are offering cyber insurance policies and endorsements, but the market is far from mature and the available policies far from complete. Insurers have not adopted a unified approach to cyber policies, nor do they offer identical coverages. Due to the
More States Applying “No-Prejudice Rule” on Notice to Claims-Made Policies
In a majority of states, an insurer cannot deny coverage based on a policyholder’s late notice of a claim without showing that the delay prejudiced the insurer. This “notice-prejudice rule” is an advance over the traditional “no-prejudice” rule that allows insurers to deny claims based on late notice regardless of the circumstances leading to the
Even If Insurer Has No Duty to Defend, It Could Have Duty to Indemnify
Paying attorneys’ fees and other costs of a defense against a third-party lawsuit can deal a tremendous blow to a policyholder’s bottom line. Not surprisingly, some of the hardest fought battles between policyholders and insurers center on whether insurers have a duty to defend. Because an insurer’s duty to defend is broader than its duty