Cyber Liability Insurance
|
|
- Dylan West
- 8 years ago
- Views:
Transcription
1 Annual Board of Directors Conference 29 April 2014
2 TOC - 1 The Cyber Risk Landscape 2 Regulation Changes 3 Case Study Why to insure 4 Page 2
3 The Cyber Risk Landscape 2013 Lloyds Risk Index : Cyber Risk ranked 3 rd (Globally) & 2 nd (USA) Drastically Moving up from 12 th position in 2011 Page 3
4 The Cyber Risk Landscape Strategic Risk Operational Risk Financial Risk Compliance Page 4
5 The Cost of Cyber Risk A 2013 study by the Ponemon Institute found that the average annualized cost for 56 benchmarked organizations was US$8.9 million a year, up from US$8.4 million in 2011 With a range from US$1.4 million to a staggering US$46 million per year. Page 5
6 Board members and Cyber Risks LAW IN THE BOARDROOM 2013 FTI Consulting Page 6 Presentation title
7 Board members and Cyber Risks Are you compliant? What about your cyber security readiness? LAW IN THE BOARDROOM 2013 FTI Consulting Page 7 Presentation title
8 Regulation EU Data Protection Directive (Directive 95/46/EC) During 2014, the European Union (EU) will begin the adaption period for the directive imposing fines for significant breaches of personal information, totaling up to two percent of a company s global revenue. Page 8
9 Insure Vs. Invest? Insurance isn t a quick fix, nor does it replace security Used as a tool of risk transfer Not all situations can be mended: Regulation Time to integrate Technological complexity Notification of a cyber breach Page 9 Presentation title
10 Case Study - Target Dec 2013 Target 40 Million credit cards POS Malware Fines up to 3.6 Billion $ Assuming Target would have been insured, the following would have been covered: Fines and law suits (capped) Investigating the breach Restoring their systems Handle the notification Customer service costs related to the breach Lost profits from downtime Page 10
11 Corporate insurance policy, aimed at handling: 1 st party damages covering cost of digital forensics and expenses related to damages due to cyber security breach on the company s network. 3 rd party damages - covering expense that insured due to a cyber related incident at a 3 rd party service provider that have hosted the policyholder s PII, sensitive data. Over 50 insurance carriers are currently offering Cyber Liability Insurance (DHS Cyber security Insurance Workshop Readout Report) Page 11
12 Coverage Data Liability Loss of Personal Information Loss of Corporate Information Outsourcing Network Security Administrative Obligations Data Administrative Investigation Data Administrative Fines Reputation and Response Cost Forensic Services Repair of the Company s Reputation Repair of Individual Reputation Page 12
13 Coverage Reputation & Response cont Notification to Data Subjects Monitoring Electronic Data Cyber/Privacy Extortion Network Interruption Insurance Page 13
14 Cost of Premiums Average premiums $100,000 for a limit of indemnity of $10 million (USA) 30,000 for a limit of indemnity (with no US exposure) of 1 million Primary limits of between 5 million and 10 million are purchased (UK) Page 14 Presentation title
15 Bottom Line We see that insurers are more aware to the cyber risks Insurance companies, once decided to enter a market will help improve it. We can transfer some of the cyber risk to the insurance companies. But cyber insurance is not a substitute of proper cyber defense measurements. Page 15 Presentation title
16 Thank You! Hacktics Advanced Security Center
Cyber Insurance as one element of the Cyber risk management strategy
Cyber Insurance as one element of the Cyber risk management strategy Stéphane Hurtaud Partner Governance, Risk & Compliance Thierry Flamand Partner Insurance Leader Laurent de la Vaissière Director Governance,
More informationMitigating and managing cyber risk: ten issues to consider
Mitigating and managing cyber risk: ten issues to consider The board of directors is responsible for managing and mitigating risk exposure. A recent study conducted by the Ponemon Institute 1 revealed
More informationData Breach and Senior Living Communities May 29, 2015
Data Breach and Senior Living Communities May 29, 2015 Todays Objectives: 1. Discuss Current Data Breach Trends & Issues 2. Understanding Why The Senior Living Industry May Be A Target 3. Data Breach Costs
More informationManaging Cyber Threats Risk Management & Insurance Solutions. Presented by: Douglas R. Jones, CPCU, ARM Senior Vice President & Principal
Managing Cyber Threats Risk Management & Insurance Solutions Presented by: Douglas R. Jones, CPCU, ARM Senior Vice President & Principal Overview Recent Trends and Loss Exposures Risk Management Strategies
More informationInsurance Considerations Related to Data Security and Breach in Outsourcing Agreements
Insurance Considerations Related to Data Security and Breach in Outsourcing Agreements Greater New York Chapter Association of Corporate Counsel November 19, 2015 Stephen D. Becker, Executive Vice President
More informationDATA BREACH: hy you should care!
DATA BREACH: hy you should care! Bob Gregg CEO Bob.gregg@idexpertscorp.com 1 Overview Defining the cyber security and Data breach problem The threat source- surprising Potential business impact No one
More informationBe Afraid, Be Very Afraid!!! Hacking Out the Pros and Cons of Captive Cyber Liability Insurance
Be Afraid, Be Very Afraid!!! Hacking Out the Pros and Cons of Captive Cyber Liability Insurance Today s agenda Introductions Cyber exposure overview Cyber insurance market and coverages Captive cyber insurance
More informationDemystifying Cyber Insurance. Jamie Monck-Mason & Andrew Hill. Introduction. What is cyber? Nomenclature
Demystifying Cyber Insurance Jamie Monck-Mason & Andrew Hill Introduction What is cyber? Nomenclature 1 What specific risks does cyber insurance cover? First party risks - losses arising from a data breach
More informationCyber Insurance Presentation
Cyber Insurance Presentation Presentation Outline Introduction General overview of Insurance About us Cyber loss statistics Cyber Insurance product coverage Loss examples Q & A About Us A- Rated reinsurance
More informationCyber Exposure for Credit Unions
Cyber Exposure for Credit Unions What it is and how to protect yourself L O C K T O N 2 0 1 2 www.lockton.com Add Cyber Title Exposure Here Overview #1 financial risk for Credit Unions Average cost of
More informationNetwork Security & Privacy Landscape
Network Security & Privacy Landscape Presented By: Greg Garijanian Senior Underwriter Professional Liability 1 Agenda Network Security Overview -Latest Threats - Exposure Trends - Regulations Case Studies
More informationCyber Risk: Global Warning? by Cinzia Altomare, Gen Re
Cyber Risk: Global Warning? by Cinzia Altomare, Gen Re Global Warning It is a matter of time before there is a major cyber attackon the global financial system and the public needs to invest heavily in
More informationPrivacy Liability & Data Breach Management Nikos Georgopoulos Cyber Risks Advisor cyrm October 2014
Privacy Liability & Data Breach Management Nikos Georgopoulos Cyber Risks Advisor cyrm October 2014 Nikos Georgopoulos Privacy Liability & Data Breach Management wwww.privacyrisksadvisors.com October 2014
More informationCyber/ Network Security. FINEX Global
Cyber/ Network Security FINEX Global ABOUT US >> We are one of the largest insurance brokers in the world >> We have over 180 years of history and experience in insurance; we currently operate in over
More informationGALLAGHER CYBER LIABILITY PRACTICE. Tailored Solutions for Cyber Liability and Professional Liability
GALLAGHER CYBER LIABILITY PRACTICE Tailored Solutions for Cyber Liability and Professional Liability Are you exposed to cyber risk? Like nearly every other business, you have probably capitalized on the
More informationEmbracing Cyber Risk: Insurance Solutions
Embracing Cyber Risk: Insurance Solutions ANZIIF Risk Rendezvous 15 Ian Pollard, Managing Director, Delta Insurance New Zealand Limited Agenda Risk Management Risk Transfer and Insurance Cyber attacks
More informationPCL2\13991300\1 CYBER RISKS: RISK MANAGEMENT STRATEGIES
PCL2\13991300\1 CYBER RISKS: RISK MANAGEMENT STRATEGIES Cyber Attacks: How prepared are you? With barely a day passing without a reported breach of corporate information security, the threat to financial
More informationThe promise and pitfalls of cyber insurance January 2016
www.pwc.com/us/insurance The promise and pitfalls of cyber insurance January 2016 2 top issues The promise and pitfalls of cyber insurance Cyber insurance is a potentially huge but still largely untapped
More informationCYBER RISK SECURITY, NETWORK & PRIVACY
CYBER RISK SECURITY, NETWORK & PRIVACY CYBER SECURITY, NETWORK & PRIVACY In the ever-evolving technological landscape in which we live, our lives are dominated by technology. The development and widespread
More informationIncentives and barriers for the cyber insurance market in Europe
Incentives and barriers for the cyber insurance market in Europe Dr. Konstantinos MOULINOS ENISA 1 Agenda o A few words about ENISA o State of play - Why cyber insurance is needed? o Barriers - challenges?
More informationCGI Cyber Risk Advisory and Management Services for Insurers
CGI Cyber Risk Advisory and Management Services for Insurers Minimizing Cyber Risks cgi.com 3 As organizations seek to create value in today s highly interconnected world, they inherently increase their
More informationAPIP - Cyber Liability Insurance Coverages, Limits, and FAQ
APIP - Cyber Liability Insurance Coverages, Limits, and FAQ The state of Washington purchases property insurance from Alliant Insurance Services through the Alliant Property Insurance Program (APIP). APIP
More informationIs Cyber Insurance the Next Big Think? 2nd Digital Payments Summit - May 2016. Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor
Is Cyber Insurance the Next Big Think? 2nd Digital Payments Summit - May 2016 Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor 1 Contents Cromar Insurance Brokers Historical Development of Cyber (Re)Insurance
More informationDon t Be a Victim to Data Breach Risks Protecting Your Organization From Data Breach and Privacy Risks
Don t Be a Victim to Data Breach Risks Protecting Your Organization From Data Breach and Privacy Risks Thank you for joining us. We have a great many participants in today s call. Your phone is currently
More informationerisks Policyholder s Guide to Privacy & Security Breach Response Planning
erisks Policyholder s Guide to Privacy & Security Breach Response Planning Professional Indemnity Financial Institutions Directors & Officers Management Liability Medical Malpractice Media Liability Level
More informationIs Your Financial Institutions' Insurance Policy vulnerable to a cyber claim? Joan D Ambrosio, James Cooper and Kim West 22 January 2014
Is Your Financial Institutions' Insurance Policy vulnerable to a cyber claim? Joan D Ambrosio, James Cooper and Kim West 22 January 2014 Cyber Exposures Joan D Ambrosio Reported data breaches continue
More informationCyber Risks in Italian market
Cyber Risks in Italian market Milano, 01.10.2014 Forum Ri&Assicurativo Gianmarco Capannini Agenda 1 Cyber Risk - USA 2 Cyber Risk Europe experience trends Market size and trends Market size and trends
More informationRISKY BUSINESS SEMINAR CYBER LIABILITY DISCUSSION
RISKY BUSINESS SEMINAR CYBER LIABILITY DISCUSSION October 23, 2015 THREAT ENVIRONMENT Growing incentive for insiders to abuse access to sensitive data for financial gain Disgruntled current and former
More informationCyber Risks Management. Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor
Cyber Risks Management Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor 1 Contents Corporate Assets Data Breach Costs Time from Earliest Evidence of Compromise to Discovery of Compromise The Data Protection
More informationBeyond Data Breach: Cyber Trends and Exposures
Beyond Data Breach: Cyber Trends and Exposures Vietnam 7 th May 2015 Jason Kelly Head of Asia Financial Lines AIG Agenda Why do companies need cyber protection Example of Cyber attack worldwide and in
More information4/30/2015 CYBER LIABILITY AND AVIATION AGENDA LEARNING OBJECTIVES. Presented by Hal Hunt May 3, 2015
CYBER LIABILITY AND AVIATION Presented by Hal Hunt May 3, 2015 AGENDA Introduction Leaning Objectives Threat Examples Underwriting Protection/Cyber Policy Summary 2 LEARNING OBJECTIVES Understand Key Terms
More informationCyber/Information Security Insurance. Pros / Cons and Facts to Consider
1 Cyber/Information Security Insurance Pros / Cons and Facts to Consider 2 Presenters Calvin Rhodes, Georgia Chief Information Officer Ron Baldwin, Montana Chief Information Officer Ted Kobus, Partner
More informationTHE ANATOMY OF A CYBER POLICY. Jamie Monck-Mason & Andrew Hill
THE ANATOMY OF A CYBER POLICY Jamie Monck-Mason & Andrew Hill What s in a name? Lack of uniformity in policies: Cyber Cyber liability Data protection Tech PI The scope of cyber insurance First party coverage
More informationPrivacy Liability & Data Breach Management Nikos Georgopoulos 1 st Athens Privacy & Data Breach Management Conference
Privacy Liability & Data Breach Management Nikos Georgopoulos 1 st Athens Privacy & Data Breach Management Conference N.G. Privacy Liability Insurance Presentation to Athens 1 st Privacy & Data Breach
More informationManaging Cyber Risk through Insurance
Managing Cyber Risk through Insurance Eric Lowenstein Aon Risk Solutions This presentation has been prepared for the Actuaries Institute 2015 ASTIN and AFIR/ERM Colloquium. The Institute Council wishes
More informationCyber Risk Insurance for Agents. Frequently Asked Questions
Cyber Risk Insurance for Agents Frequently Asked Questions 1 Cyber Risk Insurance About Great American Insurance Great American Insurance Group s roots go back to 1872 with the founding of its flagship
More informationBest practices and insight to protect your firm today against tomorrow s cybersecurity breach
Best practices and insight to protect your firm today against tomorrow s cybersecurity breach July 8, 2015 Baker Tilly Virchow Krause, LLP Baker Tilly refers to Baker Tilly Virchow Krause, LLP, an independently
More informationHow To Cover A Data Breach In The European Market
SECURITY, CYBER AND NETWORK INSURANCE SECURING YOUR FUTURE Businesses today rely heavily on computer networks. Using computers, and logging on to public and private networks has become second nature to
More informationUnderstanding the Business Risk
AAPA Cybersecurity Seminar Andaz Savannah Hotel March 11, 2015 10:30 am Noon Understanding the Business Risk Presenter: Joshua Gold, Esq. (212) 278-1886 jgold@andersonkill.com Disclaimer The views expressed
More informationDATA BREACH BREAK DOWN LESSONS LEARNED FROM TARGET
DATA BREACH BREAK DOWN LESSONS LEARNED FROM TARGET 2014 NSGA Management Conference John Webb Jr., CIC Emery & Webb, Inc. Inga Goddijn, CIPP/US Risk Based Security, Inc. Not just a big business problem
More informationTHE DIGITAL AGE THE DEFINITIVE CYBERSECURITY GUIDE FOR DIRECTORS AND OFFICERS
THE DIGITAL AGE THE DEFINITIVE CYBERSECURITY GUIDE FOR DIRECTORS AND OFFICERS Download the entire guide and follow the conversation at SecurityRoundtable.org Investment in cyber insurance Lockton Companies
More informationUpdates within Network Security and Privacy Risk Management
Updates within Network Security and Privacy Risk Management RIMS Minneapolis Meeting Melissa Krasnow, Partner, Dorsey & Whitney LLP (Minneapolis, MN) Mario Paez, Midwest Practice Leader for Tech., Privacy,
More informationData breach! cyber and privacy risks. Brian Wright Michael Guidry Lloyd Guidry LLC
Data breach! cyber and privacy risks Brian Wright Michael Guidry Lloyd Guidry LLC Collaborative approach Objective: To develop your understanding of a data breach, and risk transfer options to help you
More informationProtecting Your Assets: How To Safeguard Your Fund Against Cyber Security Attacks
Protecting Your Assets: How To Safeguard Your Fund Against Cyber Security Attacks Hacks, breaches, stolen data, trade secrets hijacked, privacy violated, ransom demands made; how can you protect your data
More informationCYBER RISK MANAGEMENT IN THE BOATING INDUSTRY
CYBER RISK MANAGEMENT IN THE BOATING INDUSTRY Carmelo Torraca, Esq. New Jersey Marine Trades Association March 2015 E-commerce has permanently transformed the way business-to-business and business-to-customer
More informationWhat would you do if your agency had a data breach?
What would you do if your agency had a data breach? 80% of businesses fail to recover from a breach because they do not know this answer. Responding to a breach is a complicated process that requires the
More informationNZI LIABILITY CYBER. Are you protected?
NZI LIABILITY CYBER Are you protected? Any business that operates online is vulnerable to cyber attacks and data breaches. From viruses and hackers to employee error and system damage, your business is
More informationCyber Warfare. Global Economic Crime Survey. Causes of Cyber Attacks. David Childers, CEO Compli Vivek Krishnamurthy, Foley Hoag LLP. Why Cybercrime?
Cyber Warfare David Childers, CEO Compli Vivek Krishnamurthy, Foley Hoag LLP Global Economic Crime Survey Cyber crime is the fastest growing economic crime up more than 2300% since 2009 1 in 10 companies
More informationCybersecurity Workshop
Cybersecurity Workshop February 10, 2015 E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. 150 West Main Street, Suite 2100 Norfolk, VA 23510 (757) 624-3153
More informationCYBERSECURITY: Is Your Business Ready?
CYBERSECURITY: Is Your Business Ready? Cybersecurity: Is your business ready? Cyber risk is just like any other corporate risk and it must be managed from the top. An organization will spend time monitoring
More informationManaging Your Cyber & Data Risk 2010 NTA Convention Montreal, Quebec
Managing Your Cyber & Data Risk 2010 NTA Convention Montreal, Quebec Jeremy Ong Divisional Vice-President Great American Insurance Company November 13, 2010 1 Agenda Overview of data breach statistics
More informationCyber Liability. Michael Cavanaugh, RPLU Vice President, Director of Production Apogee Insurance Group 877-337-3200 Ext. 7029
Cyber Liability Michael Cavanaugh, RPLU Vice President, Director of Production Apogee Insurance Group 877-337-3200 Ext. 7029 Today s Agenda What is Cyber Liability? What are the exposures? Reality of a
More informationCyber Threats and the Insurance Response
Cyber Threats and the Insurance Response Scott Reeves & Laurence Yan Munich Reinsurance Company This presentation has been prepared for the Actuaries Institute 2014 General Insurance Seminar. The Institute
More informationManaging Cyber & Privacy Risks
Managing Cyber & Privacy Risks NAATP Conference 2013 NSM Insurance Group Sean Conaboy Rich Willetts SEAN CONABOY INSURANCE BROKER NSM INSURANCE GROUP o Sean has been with NSM Insurance Group for the past
More informationCyber Security and Privacy Services. Working in partnership with you to protect your organisation from cyber security threats and data theft
Cyber Security and Privacy Services Working in partnership with you to protect your organisation from cyber security threats and data theft 2 Cyber Security and Privacy Services What drives your security
More informationCYBER & PRIVACY LIABILITY INSURANCE GUIDE
CYBER & PRIVACY LIABILITY INSURANCE GUIDE 01110000 01110010 011010010111011001100001 01100 01110000 01110010 011010010111011001100001 0110 Author Gamelah Palagonia, Founder CIPM, CIPT, CIPP/US, CIPP/G,
More informationLaw Firm Cyber Security & Compliance Risks
ALA WEBINAR Law Firm Cyber Security & Compliance Risks James Harrison CEO, INVISUS Breach Risks & Trends 27.5% increase in breaches in 2014 (ITRC) Over 500 million personal records lost or stolen in 2014
More informationJefferson Glassie, FASAE Whiteford, Taylor & Preston
Jefferson Glassie, FASAE Whiteford, Taylor & Preston 2 * 3 PII = An individuals first name and last name or first initial and last name in combination with any one or more of the following data elements
More informationPrivacy / Network Security Liability Insurance Discussion. January 30, 2013. Kevin Violette RT ProExec
Privacy / Network Security Liability Insurance Discussion January 30, 2013 Kevin Violette RT ProExec 1 Irrefutable Laws of Information Security 1) Information wants to be free People want to talk, post,
More informationTen Questions Your Board Should be asking about Cyber Security. Eric M. Wright, Shareholder
Ten Questions Your Board Should be asking about Cyber Security Eric M. Wright, Shareholder Eric Wright, CPA, CITP Started my career with Schneider Downs in 1983. Responsible for all IT audit and system
More information$194 per record lost* 3/15/2013. Global Economic Crime Survey. Data Breach Costs. David Childers, CEO Compli Vivek Krishnamurthy, Foley Hoag LLP
David Childers, CEO Compli Vivek Krishnamurthy, Foley Hoag LLP Global Economic Crime Survey Global Cyber Crime is the fastest growing economic crime Cyber Crime is more lucrative than trafficking drugs!
More informationWillis Healthcare Practice 11 th Annual Forum July 10,2007. Managing and Insuring Risks in Network Privacy/Cyber Risk
Willis Healthcare Practice 11 th Annual Forum July 10,2007 Managing and Insuring Risks in Network Privacy/Cyber Risk What is Network Security & Privacy Insurance? Created to cover gaps in traditional insurance
More informationDATA BREACH, NETWORK SECURITY, CYBER LIABILITY, PRIVACY PROTECTION: ARE YOU INSURED?
DATA BREACH, NETWORK SECURITY, CYBER LIABILITY, PRIVACY PROTECTION: ARE YOU INSURED? February 3, 2012 Steve Brown, Agency Manager West Virginia Medical Insurance Agency How many in the audience today will
More informationWFG Title Agents Insurance Program wfgagents.usi.biz
WFG Title Agents Insurance Program wfgagents.usi.biz About The Program Partnership between USI and WFG American Land Title Association Compliance Best Practices of the ALTA Best Practice No. 3: Adopt and
More informationGeneral Liability. General Liability 4/30/2015. Liability Coverage in the RIM Industry
2015 Annual Meeting May 19, 2015 Liability Coverage in the RIM Industry Presented By Brian Jungeberg, CIC General Liability Protects You From Claims of Bodily Injury or Property Damage Claims Examples
More informationJoe A. Ramirez Catherine Crane
RIMS/RMAFP PRESENTATION Joe A. Ramirez Catherine Crane RISK TRANSFER VIA INSURANCE Most Common Method Involves Assessment of Risk and Loss Potential Risk of Loss Transferred For a Premium Insurance Contract
More informationProtecting your business from cyber crime and data loss. November 2014
Protecting your business from cyber crime and data loss November 2014 1 QBE - Protecting your business from cyber crime and data loss Foreword Today s business environment moves at a rapid pace with a
More informationCyber Insurance: How to Investigate the Right Coverage for Your Company
6-11-2015 Cyber Insurance: How to Investigate the Right Coverage for Your Company Presented by: Faith M. Heikkila, Ph.D., CISM, CIPM, CIPP-US, ABCP Greenleaf Trust Chief Information Security Officer (CISO)
More informationCare Providers Protecting your organisation, supporting its success. Risk Management Insurance Employee Benefits Investment Management
Care Providers Protecting your organisation, supporting its success Risk Management Insurance Employee Benefits Investment Management Care providers are there to help those in need. But who helps the care
More informationCyber Liability Insurance Data Security, Privacy and Multimedia Protection
Page 1 of 5 Cyber Liability Insurance Data Security, Privacy and Multimedia Protection What is a Cyber Risk? Technology is advancing at such an alarming rate and business is more and more reliant on IT
More informationData Breach and Cybersecurity: What Happens If You or Your Vendor Is Hacked
Data Breach and Cybersecurity: What Happens If You or Your Vendor Is Hacked Linda Vincent, R.N., P.I., CITRMS Vincent & Associates Founder The Identity Advocate San Pedro, California The opinions expressed
More informationHit ratios are still very low for Security & Privacy coverage: What are companies waiting for?
Hit ratios are still very low for Security & Privacy coverage: What are companies waiting for? Authored by Neeraj Sahni and Tim Stapleton Neeraj Sahni is Director, Insurance Channel at Kroll Cyber Investigations
More informationMajor Legal Trends for 2015. Just Like 2014 Except More So. Charles Engros
Major Legal Trends for 2015 Just Like 2014 Except More So Charles Engros January 15, 2015 1 Major Legal Trends for 2015 SHAREHOLDER ACTIVISM SELLER S MARKET IN M&A DATA PROTECTION & PRIVACY Morgan, Lewis
More informationSenate Committee on Commerce, Science, and Transportation March 19, 2015, Hearing Examining the Evolving Cyber Insurance Marketplace
Senate Committee on Commerce, Science, and Transportation March 19, 2015, Hearing Examining the Evolving Cyber Insurance Marketplace Testimony of Ben Beeson Vice President, Cyber Security and Privacy Lockton
More informationAdventures in Insurance Land: Weaknesses in Risk Pricing & Alternatives
Adventures in Insurance Land: Weaknesses in Risk Pricing & Alternatives SESSION ID: GRC-W01 Tim West Senior Consultant Accuvant Advisory Services @west_tim Jamie Gamble Principal Consultant Accuvant LABS
More informationDiscussion on Network Security & Privacy Liability Exposures and Insurance
Discussion on Network Security & Privacy Liability Exposures and Insurance Presented By: Kevin Violette Errors & Omissions Senior Broker, R.T. Specialty, LLC February, 25 2014 HFMA Washington-Alaska Chapter
More informationWhat Solo and Small Firms Need to Know about Malpractice Insurance
What Solo and Small Firms Need to Know about Malpractice Insurance Insurance Considerations 2 Mike Mooney Vice President Bar Association Programs USI Affinity Practice 360 - A Day for Lawyers & Law Firms
More informationMANAGING Cybersecurity Risk AND DISCLOSURE OBLIGATIONS
MANAGING Cybersecurity Risk AND DISCLOSURE OBLIGATIONS RRD Donnelley SEC Hot Topics Institute May 21, 2014 1 MANAGING CYBERSECURITY RISK AND DISCLOSURE OBLIGATIONS Patrick J. Schultheis Partner Wilson
More informationDon t Wait Until It s Too Late: Top 10 Recommendations for Negotiating Your Cyber Insurance Policy
Privacy, Data Security & Information Use Insurance Recovery & Advisory Cyber Insurance June 17, 2015 Don t Wait Until It s Too Late: Top 10 Recommendations for Negotiating Your Cyber Insurance Policy By
More informationThe Intersection of 21st Century Risk Management and Data: Risk Allocation and Mitigation for Customer Data Breaches
The Intersection of 21st Century Risk Management and Data: Risk Allocation and Mitigation for Customer Data Breaches Ethan D. Lenz, CPCU, and Christopher C. Cain, Foley & Lardner LLP Data. It has always
More informationMultiple Drivers For Cyber Security Insurance
ANALYST BRIEF Multiple Drivers For Cyber Security Insurance EXPECTATIONS PLACED ON INSURANCE CARRIERS RISE WITH MARKET GROWTH Author Andrew Braunberg Overview There has been considerable good news for
More informationSecurity & Privacy Current cover and Risk Management Services
Security & Privacy Current cover and Risk Management Services Introduction Technological advancement has enabled greater working flexibility and increased methods of communications. However, new technology
More informationMedefense EPLI. and more
2013 Benefits you Medefense Cyber Liability Trust Rewards EPLI and more Rated A (Excellent) by A.M. Best Company TMLT is the only health care liability claim trust created and endorsed by Texas Medical
More informationCyber Risk, Legal And Regulatory Issues, And Insurance Mitigation ISACA Pittsburgh Information Security Awareness Day
Lloyd s of London (Reuters) May 8, 2000 Cyber Risk, Legal And Regulatory Issues, And Insurance Mitigation ISACA Pittsburgh Information Security Awareness Day Rivers Casino, Pittsburgh November 17, 2014
More informationHow To Buy Cyber Insurance
10-26-2015 Cyber Insurance: How to Investigate the Right Coverage for Your Company Presented by: Faith M. Heikkila, Ph.D., CISM, CIPM, CIPP-US, ABCP Greenleaf Trust Chief Information Security Officer (CISO)
More informationPREPARE YOUR INCIDENT RESPONSE TEAM
PREPARE YOUR INCIDENT RESPONSE TEAM JUNE 2015 Michael Harrington, Fidelis Cybersecurity It s a big problem... The ongoing cyber-thefts from The scale of international theft the In networks 2013, the of
More informationSpecialist insurance and risk implications for prepaid an update. Prepaid International Forum Osborne Clarke London Thursday 9 th February 2012
Specialist insurance and risk implications for prepaid an update Prepaid International Forum Osborne Clarke London Thursday 9 th February 2012 Introduction To update our presentation of 24 th February
More informationNetwork Security & Privacy Landscape
Network Security & Privacy Landscape Presented By: Pam Townley, AVP / Eastern Zonal Manager AIG Professional Liability Division Jennifer Bolling, Account Executive Gallagher Management Liability Division
More informationAirmic Review of Recent Developments in the Cyber Insurance Market. & commentary on the increased availability of cyber insurance products GUIDE
Airmic Review of Recent Developments in the Cyber Insurance Market & commentary on the increased availability of cyber insurance products GUIDE 1. Executive summary Airmic members have become increasingly
More informationInsurance implications for Cyber Threats
Lillehammer Energy Claims Conference Lillehammer March 7, 2014 Insurance implications for Cyber Threats How enterprises need to prepare for the inevitable JLT is one of the world s largest providers of
More informationProtecting Your Credit Union
Protecting Your Credit Union A More Strategic Approach 2013 As a credit union, you are strategic in everything you do. Shouldn t your approach to risk/insurance be the same? Why do you buy directors and
More informationImplementing Electronic Medical Records (EMR): Mitigate Security Risks and Create Peace of Mind
Page1 Implementing Electronic Medical Records (EMR): Mitigate Security Risks and Create Peace of Mind The use of electronic medical records (EMRs) to maintain patient information is encouraged today and
More informationCyber Liability Insurance Data Security, Privacy and Multimedia Protection
Page 1 of 5 Cyber Liability Insurance Data Security, Privacy and Multimedia Protection What is a Cyber Risk? Technology is advancing at such an alarming rate and business is more and more reliant on IT
More informationCyber Risks and Insurance Solutions Malaysia, November 2013
Cyber Risks and Insurance Solutions Malaysia, November 2013 Dynamic but vulnerable IT environment 2 Cyber risks are many and varied Malicious attacks Cyber theft/cyber fraud Cyber terrorism Cyber warfare
More informationPolicy Considerations for Covering Special Exposures. Claire Lee Reiss Program Director National League of Cities Risk Information Sharing Consortium
Policy Considerations for Covering Special Exposures Claire Lee Reiss Program Director National League of Cities Risk Information Sharing Consortium Special exposures Coverage that targets a loss with
More informationData breach, cyber and privacy risks. Brian Wright Lloyd Wright Consultants Ltd
Data breach, cyber and privacy risks Brian Wright Lloyd Wright Consultants Ltd Contents Data definitions and facts Understanding how a breach occurs How insurance can help to manage potential exposures
More informationCFO Changing the CFO Mindset on Cybersecurity
CFO Changing the CFO Mindset on Cybersecurity What CFOs don t know can hurt their bottom line Despite increasing cybersecurity involvement, too many CFOs still lack the cyber-savvy necessary to get ahead
More informationInsurance for Professionals
Insurance for Professionals Adam E. Gwaltney, Agent, Cyber Liability Insurance Managing Cyber and Crime Risks Through Insurance Presented by: Adam E. Gwaltney, Agent Specializing in Professional Liability
More informationProtecting Your Credit Union
Protecting Your Credit Union A More Strategic Approach Fall 2011 As a credit union, you are strategic in everything you do. Shouldn t your approach to risk/insurance be the same? Why do you buy directors
More informationUAS Insurance - a business necessity. Unmanned Aircraft Systems Typical risks and insurance issues for commercial activities.
UAS Insurance - a business necessity Unmanned Aircraft Systems Typical risks and insurance issues for commercial activities Adam Piper ACII September 2012 Agenda Introductions Current commercial activities
More information