Businesses today rely on cyber networks and electronic technologies to operate. But the digitization of the modern marketplace introduces risks as well as rewards. Transmission of or exposure to a computer virus, unauthorized access to a computer system, disclosure of protected information – these are just a few of the many serious perils that businesses may confront. And the frequency of cyber/tech-related incidents is only expected to increase over the coming decades. In order to operate safely and efficiently, businesses need counsel with an up-to-the-minute understanding of how best to minimize cyber/tech-related risks and exposures.
Cozen O’Connor is one of the few large firms with a dedicated team of attorneys who have notable experience in the complimentary fields of cyber-tech risk management and corporate law. Indeed, our attorneys have pioneered approaches that are now used industry-wide. We represent diverse clients, including insurers, retailers, hospitals and health care providers, contributors to critical infrastructure, technology vendors, high-tech businesses, advertising firms, software and website developers, computer and system maintenance companies, network security companies, application service providers, cloud providers, Internet service providers, streaming media providers, IT consultants, and Internet startups.
We formulate and assist our clients in implementing cutting-edge loss prevention strategies tailored to suit their businesses, sectors, and unique potential exposures. Our attorneys provide advice on issues relating to electronic privacy, data security, intellectual property, computer support, information technology, professional services, electronic products and activities, and cyber-perils. In so doing, we work closely with our clients to evaluate their risk management and commercial needs and design effective approaches to manage their cyber-tech risks and exposures. We also work with insurers to develop sound policy language, evaluate claims, and promote legislative and regulatory tools that minimize risk. When necessary, our attorneys defend clients in significant cyber and technology-related disputes.
According to published reports, cyber risk is one of the fastest growing and fastest changing insurance markets in the world, with annual gross written premiums rising to $800 million in 2011 from $600 million in 2010. Our attorneys have a deep understanding of the legal framework, underlying technologies, business concerns, and complex insurance policy provisions, which enables us to provide exceptionally astute counsel in this area of risk management. Our practitioners have authored widely cited articles as well as a leading text on the legal issues faced by corporate executives in connection with their businesses’ electronic operations.
In the event of a cyber/tech incident, Cozen O’Connor’s top trial attorneys are prepared to defend clients in diverse insurance and general commercial litigation. When professionals, directors, officers, or companies face cyber-related claims, we analyze the key issues, design litigation strategies, and pursue efficient and cost-effective resolution. We also protect clients involved in a host of individual disputes and putative class actions involving bodily injury, personal injury, advertising injury, and property damage claims.
SERVICE AREAS
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Conduct internal assessments of business operations, systems, and needs
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Evaluate, create, and implement breach prevention systems
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Compare and negotiate insurance policy terms and protections as well as indemnity agreements
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Develop first- and third-party cyber/tech/ privacy policies, errors & omissions insurance contracts, and first-party electronic property damage and cyber crime policy language
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Advise on coverage under all first-party and third-party lines of insurance, including cyber, technology, multi-media, fidelity/crime, CGL, professional services, and property
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Litigate individual, multiparty, and class action litigations involving Internet security, privacy, theft of confidential data, website content, unfair competition, antitrust, advertising, intellectual property, denial of service, breach of security, content liability, breach of confidence, transmission of virus, computer crime, and fidelity loss claims
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Counsel on intangible property damages resulting from viruses, worms, denial of service attacks, power interruptions, and other cyber and technology events
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Provide crisis management arising from unauthorized intrusions into clients’ computer systems