Wylie Donald and Jennifer Black Strutt Speak on Cyber Insurance Primer Webinar on March 22, 2:00 PM-3:30 PM.
This is the first in a series of two webinars designed to provide an overview of what cyber insurance coverage is, how it works and how to procure it. It is essential knowledge for IT professionals, risk managers, general and outside counsel, and executives and directors.
Cyber crime, cyber attacks, cyber security are all buzzwords at the forefront of discussions by information technology professionals, risk managers and even the executive leadership. One more cyber idea should be added: cyber insurance.
Businesses insure against crime, liability for accidents, loss of their property, and the interruption of their business. Each of those coverages is based on a reasoned analysis that the company cannot afford the loss, with the recognition that under every policy some things are excluded. Cyber risks pose new and expensive liabilities, can damage computers, software and even a company’s operational assets (through the so-called Internet of Things), and shut down a business—and, absent the intentional procurement of coverage, are very likely substantially excluded from a company’s usual coverages.
This program provides an introduction to cyber insurance and addresses the following topics:
•Insurance basics and rules of policy interpretation
•Why cyber insurance? A cyber-related loss may not be covered under other policy
•Cyber insurance 101: the assets and liabilities that may be covered
•How a cyber security program (including NERC CIP compliance) reduces your risk exposure and makes you a candidate for cyber insurance coverage
•Shopping for cyber insurance: a discussion of the current market for cyber coverage and recommendations on how best to engage it
•Key terms to negotiate when purchasing cyber coverage
•J. Wylie Donald, Esq., Partner, Insurance Recovery Practice Group, McCarter & English LLP, Washington, D.C.
•Jennifer Black Strutt, Esq., Associate, Insurance Recovery Practice Group, McCarter & English LLP, Stamford, Conn.
•Ben Beeson, Vice President of Cyber Security and Privacy, Lockton Companies, Washington, D.C.