Calfee Connections

Website privacy policies have become a standard part of doing business online, and website visitors these days likely expect one. While there is no general federal law requiring a privacy policy (though many states are passing legislation that may require one, and some businesses have privacy requirements through various data-specific federal statutes such as HIPAA, Gramm-Leach Bliley, etc.), it is generally good practice to have such a policy, especially if your business gathers contact information or other sensitive personal data (like credit card information).

Simply stated, insurance policy deductibles or retentions are a dollar threshold that must be satisfied before an insurer will pay any defense or indemnity costs on a claim. Many insureds  seek to contain their insurance premium costs by purchasing policies with substantial six to nine-figure retentions or deductibles. Unsurprisingly, insurers tend to charge lower premiums if the insured is willing to retain more dollar risk for itself through retentions or deductibles. Suffice it to say that both retentions and deductibles are loss-shifting mechanisms, which shift away from the insurer a portion of the loss otherwise covered by an insurance policy.

On Episode 24 of Calfee NOW, Michael Bowen, Associate with Calfee's Government Relations and Legislation practice group, spoke with Chris Berry, President and CEO of OhioX. OhioX is a nonprofit organization that represents and connects those committed to growing Ohio’s economy through technology and innovation.

In an M&A market that remains exceedingly frothy, many would-be buyers in the middle market are being forced to acquire the equity of a target company (rather than its assets) in order for their bids to be competitive. 

On episode 23 of Calfee NOW, Raymond Tarasuck, Senior Counsel, and Michael Bowen, Associate with Calfee's Government Relations and Legislation practice group, and Jamie Gregory Lead Principal, and Nick Bush, Principal with Calfee's Federal Government Relations and Policy group, spoke with Congresswoman Shontel Brown (D-OH, District 11). 

On Episode 22 of Calfee NOW, Raymond Tarasuck and Daniel Reinhard, both Senior Counsel, and Michael Bowen, Associate with Calfee's Government Relations and Legislation practice group, spoke with Ryan Puente, Chief of Government Affairs for the City of Cleveland.

On episode 21 of Calfee NOW, Charlie Luken, former Cincinnati Mayor, Patrick Hayes, Senior Counsel, and Michael Bowen, Associate with Calfee's Government Relations and Legislation practice group, spoke with Cincinnati Mayor-Elect, Aftab Pureval. 

On Episode 20 of Calfee NOW, Raymond Tarasuck, Senior Counsel, and Michael Bowen, Associate with Calfee's Government Relations and Legislation practice group spoke with Cleveland City Council President, Blaine Griffin, who represents Ward 6. 

The Financial Crimes Enforcement Network (FinCEN) estimates some $590 million in ransomware payments were reportedly made from January to June 2021. Moreover, hackers are now blatant enough to brand their undertakings as “Ransomware as a Service,” and some reportedly “feel completely safe” from prosecution against their illegal activities in countries such as China.

What are these data breaches and ransomware attacks, and what can you do to help protect your company?