An increasingly interconnected world has led to a tidal wave of “cybercrime.” This new business risk runs the gamut from ransomware and cyber-extortion to funds transfer fraud and cyber-vandalism.

Business Email Compromise scams affect businesses of every size and industry. According to the FBI, over 17,600 victims reported crimes with losses totaling more than $2.3 billion between October 2013 and February 2016. And this type of fraud is increasingly common; since January 2015, the FBI has witnessed a 270 percent increase in identified victims and exposed loss.

John K. DiMugno for the Legal Solutions Blog writes about the influence of the The ALI’s 2014 Restatements.

According to the Insurance Journal, Samsung Electronics Co.’s recall of its fire-prone Galaxy Note 7 smartphone will be one of the biggest recalls ever in the technology industry. The South Korean conglomerate pulled the plug on the entire product line and slashed its third-quarter profit forecast by $2.3 billion.

Meet members of the Insurance Coverage Section Executive Committee with the Take Ten Q&A Series!

Take a look here for a recent compendium on uninsured motorists and uninsured motorist coverage. And, don't forget to register for our upcoming CLE on the topic.

If your job includes reviewing, drafting or negotiating contracts, you’ve probably seen these provisions. Are they boilerplate that you spend little time on? Do you fully understand exactly what they do? Do you negotiate or revise them? Kenneth Gorenberg of Barnes & Thornburg LLP gives you the scoop.

Has your insurer informed you that belated payment of policy benefits somehow “cures” any prior delay and insulates the insurer from any further liability? Don’t believe it. Matt O'Hanlon of Barnes & Thornburg LLP discusses California law, under which a wide range of damages are potentially available for an insurer’s failure to timely pay an insurance claim under a bad faith theory.

Insurance coverage cases often involve complex or unusual issues. Similarly, blogs and insurance newsletters typically revolve around breaking decisions or new trends in the market. In this realm, insurance basics and best practices can be overlooked. This article from Kara Cleary at Barnes & Thorneburg LLP summarizes some high level points.

Joan M. Cotkin for Lexology reports that in an effort to deal with the terrible epidemic of drug abuse and the human and economic costs of this dilemma, the state of West Virginia has brought lawsuits in several jurisdictions against pharmaceutical companies and distributors of “controlled” drugs which West Virginia alleges were sold by “pill mills” to people for no reasonable or legitimate purpose.