Insuring Cryptocurrency Theft
Tether, the company behind USDT – a digital token backed by fiat currencies like the dollar and euro – disclosed that a hack resulted in the loss of nearly $31 million worth of tokens. In our lead "Feature" article, "At the End of Your Tether: Addressing, Responding to, and Insuring Cryptocurrency Theft," Herbert F. Kozlov, J. Andrew Moss, Kari S. Larsen, and Vincent James Barbuto, attorneys at Reed Smith LLP, discuss the hack, other recent breaches and cryptocurrency thefts, and insurance for cryptocurrency and the associated underwriting issues.
The Evolving Cyber Insurance Market
Next, we have a "Feature" interview with Robert M. Fettman, counsel at Hogan Lovells, "The Evolving Cyber Insurance Market: How IT Companies, Financial Institutions, and Other Nontraditional Players Can Offer Cyber Insurance Coverage to Their Customers," in which Mr. Fettman discusses the evolution of cyber insurance, the level of regulatory oversight applied to covered entities, and ways that noninsurance companies can offer their clients cyber insurance coverage.
Focus On: One "Accident," or More?
In this issue's "Focus On" column, "One 'Accident,' or More?," Steven A. Meyerowitz, Esq., the Editor-in-Chief of the Insurance Coverage Law Report and the Director of FC&S Legal: The Insurance Coverage Law Information Center, explains a Wyoming Supreme Court decision finding that the "cause theory" should be used to interpret the term "one accident" in an automobile insurance policy.
And More…
We also have the "best of the best" Case Law and Legislative/Regulatory Developments from FC&S Legal, as always written and analyzed by Steven A. Meyerowitz, and my Industry News column.
Enjoy the issue and have a Happy, Healthy, and Prosperous New Year!
Victoria Prussen Spears
Editor, Insurance Coverage Law Report
Associate Director, FC&S Legal