Judy Selby Discusses Effects of the Colonial Pipeline Ransomware Attack on Cyber Insurance Marketplace
Hinshaw attorney Judy Selby was recently quoted in a Law360 article titled, “Pipeline Ransomware Attack Could Raise Cyber Insurance Bar.” The article discusses why the recent ransomware attack on Colonial Pipeline Co. could make it tougher for companies to negotiate cyber insurance policies without first bolstering their technological defenses.
Selby notes that "[e]very company is at risk, and [to the bad guys] the value of the information you have … is not necessarily its market value, but the value it has to you in running your business." She also discusses how the effects of ransomware attacks are not limited to hackers' primary targets: “[T]he Colonial Pipeline incident highlights how an incident affecting one company can affect dependent organizations, which can implicate those organizations' contingent business interruption cyber coverage.”
Read the full article (subscription required)
"Pipeline Ransomware Attack Could Raise Cyber Insurance Bar" was published by Law360, May 14, 2021.