u/Joe_Cyber

I pulled the court documents on this lawsuit and it's wild.

The MSP (named redacted) had a nearly decade old BAA with no liability cap; along with many other terrible one-sided provisions that could cost them millions.

However, they do pull out the boldest claim defense I've ever seen. They're either going to dunk on the plaintiffs, or the court is going to dunk on them.

At the end of the video, I put down a list of action items if you've already signed a BAA.

One Ransomware Attack. +$5M MSP Lawsuit: Lessons Every MSP Needs to Know

Question for chat: What is your standard limitation of liability cap in your BAAs?

ex: 1/3/6 months of fees?

I for one, welcome our new robot overlords.

But until SkyNet becomes self-aware, I thought I would use AI for good. AI said these are your top 25 MSP Insurance questions.

https://youtu.be/Tcw3BYTZ2GM

00:26 What types of insurance does an MSP specifically need?
01:42 What's the difference between E&O and Cyber Liability insurance, and do I need both?
02:08 Does my general liability policy cover technology related claims, or do I need a separate Tech liability policy?
02:30 What does my policy actually cover vs. exclude when a client suffers a data breach?
03:13 Are my subcontractors and vendors covered under my policy, or do they need their own?
04:30 Does my cyber policy cover ransomware payments, and are there limits or conditions?
05:12 What's the difference between first-party and third-party cyber coverage?
06:02 Does my policy cover business interruption losses if my RMM or PSA platform goes down?
07:01 Am I covered if a breach originates from a vendor in my supply chain (e.g. a compromised tool)?
07:43 does my policy cover social engineering and funds transfer fraud attacks against my clients?
08:13 CCA and Xclause
08:37 What's the claims process and how quickly will the insurer respond during an active incident?
09:53 Does my policy provide access to a breach response team, legal counsel, or forensics investigators?
10:08 What are the most common reasons MSP claims get denied?
10:35 Am I covered if a former employee causes a breach or data loss?
10:50 How does a "claims-made" vs. "occurrence" policy affect my coverage for past incidents?
11:48 What security controls do insurers require MSPs to have in place to qualify for coverage?
12:49 Will my premiums increase after a claim, and by how much?
13:35 How does my policy handle clients in regulated industries (healthcare, finance, legal)?
14:02 Do I need to meet specific compliance frameworks (SOC 2, NIST, CIS) to maintain my policy?
14:38 How are my coverage limits determined, and are they sufficient given my client revenue size?
15:02 Should my MSA/client contracts align with my insurance policy language to avoid gaps?
16:06 Can I be held liable beyond my policy limits if a client sues for negligence?
17:24 Does my policy cover legal defense costs if a client threatens litigation, even without a formal suit?
17:58 Am I required to carry certain coverage types or minimums to work with enterprise clients or specific verticals?
18:50 How much insurance coverage is enough, and how do I avoid being over or under insured as I scale?

If I missed anything, or you want clarification, let me know.