Credit: Yurii Kibalnik/Adobe Stock. Legal Chiefs Increasingly Handle Legwork to Avoid Cyber Insurance Sticker Shock
"An insured has to be able to tell a good story," said Daniel Burke, senior vice president of the cyber practice at Woodruff Sawyer & Co.
March 16, 2023 at 10:09 AM
6 minute read
Cyber insurance is painfully expensive for many companies. But that sure beats the alternative: being turned down for coverage and having to do without.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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