Haynes Boone Partner Peter Halprin recently spoke with Healthcare Info Security on the insurance risks arising from the 23andMe Chapter 11 proceedings.
Read an excerpt below.
"Buy backs are most common in claims involving old policies and long tail risks - like environmental or asbestos claims - as they permit the insured to take a lump sum of money immediately, the insurer to gain certainty as to their present and future out-of-pocket costs, and both sides to avoid potentially lengthy and expensive coverage litigation," Halprin told Healthcare Info Security.
"The disclosure regarding the role and availability of cyber insurance to address 23andMe's cyber and privacy liability highlights the import and value of cyber insurance in providing bottom-line protection for those exposures," Halprin said.
