In the News: Todd Rowe Discusses the Vital Role of Claims Professionals After Cyberattacks

Todd Rowe, a member of the Constangy Cyber Team, authored an article for Claims Journal discussing the valuable role claims professionals play in the aftermath of a cyberattack. While the role of brokers, privacy counsel and forensic investigators is directly apparent, claims professionals are an essential tool to answer the question that always arises: “Is this covered by my insurance?” 

Rowe shared that businesses may be unfamiliar with coverages of a cyber insurance policy; therefore, they need a claims professional who is familiar with both cyber incidents and cyber policies. Cyber insurance policies are a hybrid of first-party coverage and third-party liability, which presents challenges as businesses navigate claims. Forensic investigations and regulations also play a significant role in how a cyberattack claim is handled.  

“Beyond the terms and conditions of the cyber policy, while answering the “big question,” claim professionals provide practical guidance, such as trying to retain policy limits for notice of impacted individuals, regulatory issues and class action litigation,” Rowe stated. “Consequently, by preparing to answer the ‘big question,’ claim professionals can provide more certainty for an insured by understanding both the first-party and third-party coverages and being able to communicate that understanding to the insured.” 

To view the full article, you may click here.