Target Data Breach Lawsuits Increase Focus on Insurance Coverage for Cyber-Risk

I just finished a very fine (and, unusual for a lawyer blog, concise!) piece on the deluge of lawsuits already filed against Target entitled The Target Data Breach Lawsuits: Why Every Company Should Care.  I recommend it.  The author does not touch on the insurance coverage issues raised by data breach litigation, and who can blame him.  The author probably realized that his subject matter - causes of action, standing, multi-district litigation - was dry enough.  No need to put absolutely everyone to sleep by bringing up insurance.  But that's my stock in trade.  So are suits like these covered by traditional GL policies?  Are you sitting down, 'cause this will be a shocker... it depends.  It depends on what the plaintiffs allege, it depends on what the hackers got, it depends on what jurisdiction you are in.  As it happens, right before the Target news came out I had begun working on some CE (continuing education) materials for insurance professionals on data breach and cyber-risk coverage at the suggestion of a good friend in the industry.  I'll share some of the highlights here as I develop those materials, so please subscribe via RSS or email for further updates!  And Happy New Year, readers!