Philip Tansley

Osborne Clarke

Phil is an expert on insurance coverage and cyber incident management, having been involved in the cyber insurance market from its inception.

Phil has over 20 years’ experience in advising international insurers, policyholders and intermediaries on complex insurance and reinsurance coverage matters. He also has extensive experience advising businesses from a variety of sectors and their insurers on the management of cyber incidents including issues such as cross-border regulatory notifications, responding to investigations, data subject claims and follow-on litigation with commercial counterparties.

Practice Area

Arbitration

Panel

Contributing Author

Qualified Year

2001

Membership

Society for Computers and Law

Qualification

Solicitor Advocate (2003)

1 Contributions by Philip Tansley

PRACTICE NOTES

Cyber insurance: coverage, triggers, business interruption, silent cyber and other exclusions, war/catastrophic risks, regulatory investigations, ransom payments, aggregation and notification—key issues for legal advisers

What is cyber insurance? Cyber insurance has rapidly progressed from a narrow form of cover, originally focused on liabilities anticipated following the 2002 Californian Data Security Notification Law, to a sophisticated product delivering a blend of first- and third-party protections, chiefly intended to help insureds manage cyber attacks and to indemnify them for the losses that follow. There is no single, settled definition of cyber risk. For insurance purposes, it is typically viewed as the chance of harm, financial loss, or legal liability resulting from damage to, or unauthorised access to, information systems. Frequent sources of loss include accidental events (e.g. damage to equipment that hosts data or system misconfiguration) and deliberate attacks (e.g. ransomware, business email compromise, distributed denial-of-service attacks). Such events may give rise to a range of significant incident response and remediation costs and expenses; first-party loss; third-party liabilities; and the expense of responding to regulatory investigations. Coverage available As a relatively new class of business, there remain notable differences in the cover available from different cyber insurers, as underwriters broaden terms to seek market share or restrict them in response to prevailing market conditions over time as they evolve. Cyber insurance can typically be purchased on...

Insurance & Reinsurance

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