Camargue is more than a policy. Camargue is more than a product. Camargue is a concept

Transcription

1 Camargue Camargue is more than a policy. Camargue is more than a product. Camargue is a concept

2 The Camargue concept is driven by an inherent desire to keep challenging what is possible in the world of specialised liability Management Bringing products, risk management solutions and risk management services to an ever increasing range of clients - with ever increasing impact on business, society and beyond.

3 Specialised Divisions and Accountable Persons Fiduciary: Caroline Yeo D&O Trustees EPL K&R General Liabilities: John Stebbing Primary Umbrella Motor 3 rd Party CCCC and FIPI Catherine Berry Cyber Commercial Med Mal Clinical Trials PI Liability Academy and Risk Management Services: Mari Williams

4 Introduction to the Liability Academy for Brokers Camargue acknowledge people as the proponents of knowledge continuously pursuing greater knowledge and sharing it. In addition to the weekly training and national road shows and have launched Directors and Officers (5CPD) and Commercial crime (3CPD) online training earning additional CPD points even if you have attended a workshop on these products previously. Register directly on

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7 CPD Accreditation : Liability Academy for Brokers All our Training have been CPD accredited as follows: Directors and Officers Liability 1 CPD hour (*Elab 5CPD) Employment Practices Liability 1 CPD hour Broadform General Liability 1.5 CPD hour Commercial Crime Insurance Seminar 1 CPD hour (*Elab 3 CPD) Claims training : All products 1.5 CPD hour PI Liability combined with Medical Malpractice 2 CPD hour Cyber Liability 1.5 CPD hour Trustee liability 1 CPD hour

8 JOHN STEBBING HOW TO STRUCTURE A LIABILTY PORTFOLIO

9 Liability Insurance in Context Commercial Insurance Own Damage 3 rd Party Liability Damage Injury Pure Financial Loss

10 Liability Insurance in Context Injury this includes sickness or death Damage this damage to tangible property includes theft Includes } consequential loss Pure financial loss a loss where there has been no Injury or Damage

11 Understanding Liability Insurance: General Liability policy: Covers Injury and Damage (mostly) The Insured is the Company The claimant could be almost anyone

12 Understanding Liability Insurance: Professional Indemnity policy: Cover pure economic loss (mostly) The Insured is the Company The claimants are generally customers

13 Understanding Liability Insurance: Directors & Officers liability policy Covers pure economic loss The Insured are the company s directors, managers and supervisors The claimants are often shareholders and unpaid creditors.

14 Understanding Liability Insurance Employment Practices policy Cover pure economic loss The Insured is the Company The claimants are staff (or ex-staff or wannabe staff)

15 JP VIKING recording, 007 sound Lasers and hazers Time?

16 CATHERINE BERRY Masters degree in Commerce-Specialising in Risk and Insurance. Thesis: Management and Insurance of CYBER LIABILITY

17 WHAT IS CYBER RISK? Exposures emanating from computer networks and the internet

18 BUSINESS RISKS Operational Financial Intellectual property Legal and regulatory Reputational

19 DATA BREACHES Costs arising from a data breach Impact of data breach on brand value Directors and Officers liability

20 How does it happen.. DATA BREACHES

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22 DATA BREACHES Supply chain: Manufacturers Wholesalers/Retailers Middlemen Consumers

23 DATA BREACHES HFT Target Home Depot

24 POPI Protection of Personal Information Electronic Communications and Transactions Act of 2002 Protection of Personal Information Act Enacted in 26 November 2013 International data laws Information Regulator Three elements of potential liability

25 ECONOMIC COST OF CYBERCRIME 2014 McAfee Report on the Global Cost of Cybercrime Est annual costs to global economy exceeds USD400 billion South Africa estimated 0.14% of GDP = R5.8 billion annually

26 SOUTH AFRICAN STATISTICS October 2013 report: FBI: 6th most active country Informal consensus: 3rd behind China and Russia Losing R1 billion annually Estimated 2-3 cybercrime proceeds shall outweigh those from all other forms of crime combined

27 THE FACE OF SOUTH AFRICAN DATA Payments Association of South Africa: Insufficient security standards South African Police Services : Anonymous - Marikana disaster :16,000 whistle blowers identities revealed Dexter malware City of Joburg online billing

28 COMPREHENSIVE COVER MODULAR SOLUTION Professional Services / Errors and Omissions

29 COMPREHENSIVE COVER MODULAR SOLUTION Multimedia Liability

30 COMPREHENSIVE COVER MODULAR SOLUTION Network Security and Privacy Liability

31 COMPREHENSIVE COVER MODULAR SOLUTION Data Rectification and Business Interruption

32 COMPREHENSIVE COVER MODULAR SOLUTION Privacy Regulatory defence and Penalties

33 COMPREHENSIVE COVER MODULAR SOLUTION Crisis Management Costs, including Customer Notification, Support and Credit Monitoring Expenses

34 COMPREHENSIVE COVER MODULAR SOLUTION Data Extortion

35 RISK MANAGEMENT SERVICES Subsidised vulnerability assessment Private arbitration services Crisis communications guidelines Data breach guidelines

36 To illustrate the calibre of Risk Managers we partner with : DANNY MYBURGH Digital Forensic Expert CURRENTLY Chairman of the association of certified Fraud Examiners Cyber forensic forum and MD of Cyanre PREVIOUSLY Superintendent/Colonel at SA Police Deloitte forensic and dispute services Chairman of the Interpol African working party as well as Interpol Steering committee on Cyber Crime in Africa

37 CAMARGUE LAUNCHES PROTECTION OF PERSONAL INFORMATION MADE EASY! A FREE ebook to Navigate the Provisions of POPI June 2015 Camargue has launched a new electronic guide to POPI Protection of Personal Information Made Easy. The ebook is available free to brokers and their clients, and can be downloaded from

38 JUSTIN KEEVY Camargue Commercial Crime

39 Suspects: Most common suspects Where do all the money go Sentencing Recovery

40 Most Common Losses: Stock Theft (Manual Invoicing) (Cycle Counting and Collusion) EFT Transfers Cash Theft Debtors (Rolling) Payroll (SARS) (Ghost Employees)

41 Most Common Losses: Cheque Fraud Cyber Crime (Syndicates) Corruption Change of Banking Details Retail (Credit Cards) (Returns) (Cash)

42 Summary of Key Cover Insured Event Employees Others Employee Dishonesty Covered Not covered, require collusion Computer Fraud Covered Covered Fraudulent Transfer Instructions Covered Covered Extortion Covered Covered

43 JOHN STEBBING GENERAL LIABILITY INSURANCE

44 THE COVER PROVIDED: General Liability Policy Public Products Products Negligent Liability Liability Inefficacy Advice Professional Products Products Indemnity Recall Guarantee

45 P.I. VS NEGLIGENT ADVICE: Negligent Advice Professional Indemnity Both cover bad advice given to a customer Advice must be given for free Advice can be charged for Only advice about Insured own products or services Injury and Damage claims only Any professional advice Pure economic losses

46 RISK MANAGEMENT SERVICES

47 RISK MANAGEMENT SERVICES 1. ACCOUNT VERIFICATION SERVICES FOR LARGE PAYMENTS 2. FREE LEGAL ADVICE - TELEPHONICALLY 3. CRISIS COMMUNICATION ASSISTANCE 4. EDUCATION: HR AND IR MATTERS 5. EMERGENCY SERVICES/EVACUATION 6. FRAUD HOTLINE CRIME REPORTING 7. MEMBERSHIP OF PROFESSIONAL ASSOCIATIONS LIKE IODSA 8. ON SITE RISK SURVEY SERVICES/COMPLIANCE 9. PRIVATE ARBITRATION SERVICES 10. CONTRACT VETTING SERVICES 11. VULNERABILITY TESTING

48 Thank you for spending time with us today! Please join us for buffet lunch

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