Stuxnet

Makers and Users of Smart Devices Beware: You May Have a Critical and Costly Gap in Your Insurance Coverage

Large scale cyber-attacks and data breaches are, regrettably, a daily occurrence in today’s world. Countless companies – including some of the world’s largest – already have been victims of cyber-attacks, countless others will be victims in the future, and others already are victims but simply do not know it yet. By now, many companies purchase specialized insurance that covers many of the types of costs that the company may incur in the aftermath of a cyber-attack. But these policies do not provide coverage for every consequence of a cyber-attack, and that reality may hit home for makers or users of smart devices in an expensive way. This is a cautionary tale for participants in the Internet of Things. READ MORE