Understanding the Importance of Accountability in an Emerging Subrogation Field
Cyber Liability Subrogation is an emerging field in insurance law; it requires careful skill on the part of a subrogation attorney to effectively subrogate these nuanced claims. Because the loss and the actions involved are intangible, successfully reconstructing the incident and identifying responsible parties can prove difficult without counsel focused in these complex areas of insurance law.
If your company is hacked or has otherwise suffered an intelligence loss by a third party, the costs of restoring security, paying out claims, and the effect on your reputation can become cumbersome. Should an initial investigation fail to uncover the responsible party, a subrogation company can take another look.
While the actual culprit is often difficult to identify, a subrogation-focused investigation is a powerful tool when seeking legal accountability for those who had a responsibility to protect the victim from loss. Entities that may be held responsible for loss in a given subrogation case include network and data protectors, maintenance and security vendors, or any business partners that do not properly protect the data that is shared with them.
Pursue Cyber Liability Subrogation Claims to Pay it Forward
As in any subfield of subrogation, retaining a skilled subrogation law firm for cases of tortious or negligent damage is key to maximizing recoveries and minimizing losses. But beyond that, subrogating your cyber security claims has other far-reaching benefits.
- Recover costs of paying out claims to your insured.
- Help ensure cyber insurance remains affordable for companies.
- Hold an accountable party responsible and prevent further attacks against you/others.
The vital component in this pursuit is having a team of subrogation attorneys and claims adjusters at your side to perform an in-depth investigation, exhaust every pre-litigation avenue to recovery, and optimize your chances of recouping losses all the way from judgment to payment completion.
RG’s Process for Maximizing Recovery in Cyber Liability Subrogation Cases
To most effectively manage cases in the subrogation of cyber claims, Rathbone Group looks for the best approaches to recovery of damages from multiple angles.
- Subrogation counsel analyze which parties have exposure, and explore how each party might be liable for the victim’s loss.
- In tandem, we identify what should have been done to protect the insured.
- Throughout the process of any case, we use the lens of subrogation to review any obstacles that may be an impediment to recovery. This includes any contract terms, statutes of limitation, and proficient knowledge of the specific subrogation laws of the jurisdiction in which the case was brought.
The field of Cyber Liability Subrogation is still in its infancy, and the application of subrogation law can be complicated at times. Through thorough investigations, open communication, and a creative approach to identifying tortfeasors and holding them accountable, Rathbone Group has developed a unique approach to subrogation litigation that minimizes cost while maximizing recovery.