With high-profile cases such as ChoicePoint and TJX acting as a lure, plaintiffs' attorneys are increasingly interested in generating class-action lawsuits for data security breaches. Coverage for data breaches is more popular than ever but is still evolving.
In a panel discussion at the international conference of the Minneapolis-based Professional Liability Underwriting Society held in Chicago last year, five experts discussed the exposure environment for data and the best ways for businesses to protect themselves against losses.
Data breach insurance, popular with businesses, will change in response to frequency of loss, federal legislation, attention from the plaintiff's bar and market competition, according to Bradley S. Gow, senior vice president at Zurich North America, based in Schaumburg, Ill.
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