Cyber

In recent years, companies of all sizes have been exposed to increasing risks of losses running into the millions and loss of reputation in connection with the omnipresent digitalisation and increasing collection of data. These problems are often generally summarised under the key words "Cyber Risk" and "Data Risk". However, the underlying case configurations and risks behind these collective terms are often many-sided – and as such highly relevant for the insurance industry.
 
Whether it is about

• cases of cyber crime (e.g. cyber blackmail), 
• abuse of data processing systems by employees to the damage of companies,
• operational risks in connection with criminal activities,
• (economic) espionage by public and private entities,
• cyber terrorism, or
• simple programme, data or operating errors;

all these examples pose considerable financial risks for companies and their insurers.
 
As reliable partner of the insurance industry, BLD has been intensively working on many aspects of cyber and data risks from the beginning, thereby not only building up its own legal and technical expertise but also establishing numerous contacts with specialised IT service providers, fraud experts, PR-consultants and other service providers.
 
For companies cyber risks often do not only stand for third-party damages, but also for own losses, business interruption and other expenses that are connected to such damages. Since they also touch on numerous areas of law and of insurance, BLD always sets up interdisciplinary teams when it comes to product development as well as handling claims. For cross-border cases we use our own international alliance of law firms Legalign Global.
 
We especially advise on

• all kinds of product design and development, especially on special cyber wordings, IT-liability and crime insurances, D&O-insurances, business interruption insurance, additional coverage modules, data protection policies etc.;
• examining and adaptation of insurance programmes in context with the insurance of cyber risks;
• all kinds of liability damages in connection with cyber and data risks, including personal injury and property damage;
• civil law as well as public law responsibility of companies;
• all kinds of first party losses (above all business interruption) and other expenses that may accrue in connection with cyber losses;
• cases of cyber and data risks in the home country and abroad.

We offer our clients comprehensive loss monitoring and support by specialised service providers. We advise insurers in the assessment of cyber risks and regularly provide immediate legal support in cases of potential cyber attacks. This comprises the cooperation with specialised IT forensic experts for data recovery and IT-security, the information of clients, contacts with the relevant authorities and the assessment of legal and economic risks. It goes without saying that we advise and represent our clients in the defence against liability and coverage claims in and out of court.

For cross-border cases we use our international alliance Legalign Global, of which we are a founding member.