The pandemic brought about various long-lasting changes to the global workforce landscape as it forced more people to work online. As a result of remote work arrangements, cybercriminals became bolder, exploiting employees at home who were unfamiliar with their tactics and often lacked the proper security software.
According to the cybersecurity organization known as Coalition, cybercrime is estimated to cost businesses $1.5 trillion – with a T – every year despite cybersecurity expenditures of $120 billion.
Coalition’s 2020 Cyber Insurance Claims Report shows that cybercrime rose 57 percent in the wake of COVID-19. Ransomware attacks were the most frequent cause of loss at 41 percent, followed by funds transfer loss at 27 percent, and business email compromise at 19 percent – a total of 87 percent of all claims for losses.
Cyber liability insurance is meant to provide protection if your business suffers a loss due to cybercrime, but like all insurance policies, the fine print can come back to haunt you. When you purchase a cyber liability policy, you must ensure that it really protects what you think and hope it will.
If your business in or around Houston, Texas, or in the surrounding areas of Sugar Land, Baytown, Katy, and Pearland, has suffered a loss due to cybercrime and is being denied compensation from your cyber insurance policy, contact McLaurin Law.
McLaurin Law attorneys are familiar with the trick questions and bad faith tactics of insurers and will press your claim aggressively. Texas has an Unfair Claims Practices Act that forces insurance companies to be honest and upfront and honor claims within a specified time frame. Call McLaurin Law so they can assess your situation against the terms of your policy and hold your insurer’s feet to the proverbial fire.
Cyber liability insurance is a fairly new entry to the insurance industry, and it has often been compared to the Wild West. The policies are as varied and confusing as they are numerous. Basically, a cyber policy is meant to reimburse a business for losses occurring from online operations, whether it be from ransomware demands, outright fund transfer theft, or the hijacking of emails to rob customers – and revenue – from another business.
As with all insurance plans, exclusions are often enumerated in the policy to give the parent company legal wiggle room to deny your claim. Exclusions you should enquire about – and look for in the fine print – include:
Failure to Maintain Proper Security Standards: Wording in cyber policies varies. Some may require you to adhere to “industry security standards,” which may be otherwise undefined in the policy. Other policies may list “minimum required practices.” Before purchasing the policy, you must get clarification on “industry standards” and be sure to match those and any listed “minimum required practices.” You can also request that the exclusion be removed, which the insurer may very well refuse to do. Keep shopping.
Prior Acts: Your policy will likely preclude claims based on a cybercrime that began before the policy took effect, but was only discovered after the policy’s effective date.
Ransomware Demands: If a hacker takes over your site and demands a ransom to return it to your control, the ransom payment may likely be excluded in your policy.
PCI Fines and Assessments: If your site is hacked and consumer data is stolen – known as a breach of the Payment Card Industry (PCI) Data Security Standard (PCI DSS) – your business may be fined or assessed fees by your credit card processing bank. Your cyber policy may exclude covering your losses due to PCI issues.
Stolen Laptops: If a loss results from a laptop inadvertently left in a coffee shop and picked up by a thief, your insurer may deny coverage (likewise if they steal it by any other means).
Other cybercrimes may also be excluded, including rogue employees who steal data, data culled from dumpster diving, being duped into making a payment from
Insurance companies are in the business of making money, so they hire claims adjusters to find ways to lowball or outright deny claims. Do not deal with the adjusters by yourself. Rely on the attorneys at McLaurin Law. They have years of experience in dealing with the questions and demands of adjusters. If you have suffered a loss from cybercrime in or around the Houston area and are getting the runaround from your insurer, contact McLaurin Law immediately.
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Typically, the answer to this is absolutely not. Insurance companies are looking out for their own best interests and will try to get you to settle for an offer that is far below what you deserve. At McLaurin Law, we can help you seek an appropriate settlement.
After an accident, you should typically file a claim with the insurance provider of the negligent party who is responsible for your accident. It is important that you move with haste in filing a personal injury claim with the insurance carrier after an injury has occurred. Should a lawsuit eventually become necessary, it is also important to keep in mind that in the state of Texas, you must file a personal injury lawsuit within two years of the date the injury occurred.
Below are some frequently asked questions about Theft and Vandalism Claims:
Commercial insurance policies often cover losses due to vandalism, or the intentional destruction or defacement of property, but will not cover theft or burglary losses. This can be particularly complicated in cases where vandalism leads to the theft of certain items on the premises.
Homeowners’ and renters’ insurance policies generally cover vandalism and theft for residential properties. If you own your home, your homeowners’ policy will cover damage to the structure and your contents or personal belongings. If you rent your home, the property owner’s policy will cover damage to the property, while your renters’ insurance will cover your personal belongings inside the home.
Insurers often don’t like paying claims for damages sustained by their policyholders. They may assess the risks associated with your home or business location and income levels and adjust their coverage limits, so they have a decreased responsibility to pay for damages due to theft or vandalism.
For commercial policyholders, your insurance company may require you to minimize the risk of vandalism or theft. Your insurance company could require you to install security cameras and devices, advanced locking systems, and appropriate lighting. Your insurance company could still require higher coverage limits if your business is in an area that reports an increased number of thefts or vandalism.
There are several reasons your insurance company might deny a claim. A vandalism and theft attorney from our office can help you review your policy and claim denial to determine the following:
A theft and vandalism lawyer with our firm can help you determine which losses listed in your policy best fit the situation and file the appropriate evidence for your claim. Your theft and vandalism claims attorney can also speak with the insurance adjusters on your behalf. Call us at (713) 461-6500 when you need more than luck!
Below are some frequently asked questions about Wind and Hail Damage Claims:
You will need evidence that the damage your home sustained came from wind or hail.
Common signs of wind and hail damage include:
Get an inspection if you suspect your home sustained damage during a recent storm. Roofing contractors with certifications in home inspections will often be willing to mark and take photos of the damage they identify during inspection of your home and roof. A wind and hail damage attorney with our firm can use their reports to fight for approval of your claim with your insurance company.
Call our McLaurin Law wind claims attorney if your home shows signs of wind damage after a hurricane, tropical system, or particularly windy day. We can help you file your claim with your insurance company and represent you when the insurance company’s claims adjuster has additional questions.
Many insurance companies try to deny or underpay claims based on arbitrary rebuttals. For example, if you have both wind and hail damage, they may reject a portion of the claim because you filed a wind claim.
Hail damage often affects roofs more than any other part of the home. Sometimes hail only damages part of a roof, requiring a simple repair. Other times, you’ll have enough roof damage to require a full roof replacement. A McLaurin Law attorney can work closely with your roofer and insurance company to fight for full claim approval.
Insurance companies often deny claims despite ample evidence of legitimate storm damage. When this happens, the next step is to file a lawsuit against the insurance company with the guidance of a wind and hail damage claims attorney. If your insurance company denies your claim, contact us. Call McLaurin Law in Houston, TX, at (713) 461-6500 when you need more than luck!
Your number one priority should be your well-being. Seek out medical advice as soon as possible to ensure that you get the treatment you need. You should also move quickly to consult with an attorney to assist you with your personal injury claim. Critical events occur early in the personal injury claims process—such as interviews with adjusters and early damages assessments—so do not delay speaking with an attorney.
Browse our growing library of multimedia educational content to better understand the rules and processes involved in your Texas injury case or insurance claim. Review the items relevant to your issue, and let us know your questions.
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