The report examines key cyber and ransomware insurance issues, including the measures a business should take before a cyberattack and the steps needed after an attack to capitalize on insurance coverage.

“As most companies already know, it is not a matter of if they will be attacked, but when, and what sort of sensitive information will be compromised,” said David Halbreich, chair of Reed Smith’s Insurance Recovery Group.

“Cybercrime remains a top challenge for organizations globally with new obstacles created through remote and hybrid work,” Halbreich said. “With the escalation of claims, insurance companies have responded with new and broadened policy exclusions under policies that have only seen higher premium costs.”

The report features a series of articles, tips, updates, checklists and Q&As focused on preparing for, preventing and responding to a cyberattack, as well as what insurance coverages to review.

The report includes the following chapters and topics:

Preventing an attack

• Protect your business from cyber crisis by building a cybersecurity action plan
• What to remember when completing a cyber insurance application
• Do war exclusions apply to acts of cyber warfare?
• Cyber coverage: 13 ways to maximize it before and after a breach
• Policyholders seeking cyber coverage face increasing underwriting demands
• Top questions companies should ask about cyber liability coverage

Preparing for an attack

• 10 tips to maximize insurance recovery for cyber risks
• Navigating common exclusions in cyber policies
• 10 cybersecurity questions to ask at the next board meeting
• Responding to an attack
• 12 essentials you may be surprised to learn about cyber insurance claims
• Cyber risks continue to evolve as policyholders seek to minimize exposure
• Biometric privacy violations: As costs of liability soar, insurance may respond
• Best practices for avoiding notification disputes in cyber liability (and other) insurance policies

Following an attack

• Cryptocurrency insurance: Protecting crypto assets after FTX collapse
• Pressure points in cyber insurance policies revealed in litigation
• Why you should care about cyber policy terms and conditions
• Recent developments in cyber insurance (and where uncertainty lurks)

Reed Smith’s Insurance Recovery Group has authored some of the leading treatises on insurance coverage. In recent years, the group has been recognized by The American Lawyer as “Litigation Department of the Year: Insurance” and by Law360 as “Insurance Group of the Year.”