John Mullen clearly remembers the state of the Cyber insurance market 10 years ago. "As a relatively new coverage, very few companies were buying it," says Mullen, managing partner in the Philadelphia regional office of Lewis Brisbois Brisgaad & Smith. "Underwriters couldn't get brokers to understand and sell it or businesses to appreciate it."
How times have changed. Today, Cyber insurance is a more than $2 billion business, and business is thriving in Lewis Brisbois' privacy and network security practice — which has grown from a staff of one to a division with 15 full-time lawyers dedicated solely to data privacy law.
Mullen's practice supports insurance carriers in the services they provide to their customers, which include post-breach tactical response: "We parachute in and help businesses respond when there's been a data privacy event," he explains. "We've gone from searching for breach headlines years ago to seeing them on a daily basis now, which keeps us very busy."
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