Perspective
Apr. 15, 2010
Insurance Coverage For Cyber Crimes
As companies rely increasingly on technology, they become more vulnerable to cyber-criminals and technical mishaps, write Jerry Oshinsky and Kenneth Lee of Jenner & Block.
By Jerry Oshinsky and Kenneth K. Lee
In 2007, TJX Companies - the owner of discount retailers TJ Maxx and Marshalls - announced that cyber-criminals had obtained credit card and other sensitive personal information of at least 45 million of its customers. This was not the only staggering number disclosed by TJX: The company acknowledged in its Securities and Exchange Commission quarterly filing that it had reserved $118 million to cover the costs associated with this...For only $95 a month (the price of 2 article purchases)
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