According to a recent study, the median amount of time between a breach of a company's cybernetwork and the discovery of that breach is 229 days. Given this lengthy amount of time, companies should consider the benefits of an expanded cyberliability insurance policy period, particularly if the company is switching from one insurance provider to another. This topic is discussed in "Hackers Don't Care About the Terms of Your Insurance Policy: The Importance of Retroactive Dates and Extended Reporting Periods in Effective Cyberliability Insurance Coverage," a client alert written by Reed Smith's Insurance Recovery Group.… Continue Reading
