"The Militarization of Cyber Space and the Risks for U.S. Businesses," a recent IRMI.com Expert commentary article by Gary Clayton, raises a number of interesting questions about cyber risks. For example, will our next Pearl Harbor be a cyber attack? Frankly, this is one of my biggest fears, and I believe both businesses and the government are handling these risks quite naively. I sincerely think our reliance on the Internet will result in a Black Swan event at some point in the future.

What do you think? Am I being Chicken Little, or is our dependence on the Internet and piecemeal defense system leaving us exposed to catastrophe? Do you think that most companies have taken adequate measures to protect themselves from a well-coordinated and massive cyber attack? Or do we all have a false sense of security? Should more companies be buying cyber insurance? Express your views by way of a post in the IRMI Group on LinkedIn.

If you are not getting up to speed on cyber risks, how to control them, and how to insure them, you are doing your company or your clients a disservice. To help you fast-track an understanding of the exposures and insurance options, we have scheduled the 2nd IRMI Cyber & Privacy Risk Conference to take place in Baltimore on May 16–17, 2012. Unlike other conferences on this topic, this is not a pricey law-focused conference for lawyers. Rather, it is designed to help risk managers and insurance professionals wrap their arms around cyber loss exposures and how to insure them. Plan to attend now by reserving the date on your calendar and watch for more information after the first of the year.

On behalf of all my colleagues at IRMI, WebCE, and ZeroRisk HR, I wish you a safe and happy holiday season.

Jack

Jack P. Gibson, CPCU, CRIS, ARM
President & CEO
International Risk Management Institute, Inc.

IRMI Employment Opportunity

IRMI Seeks Full-Time Salesperson

IRMI is currently seeking a professional salesperson with a successful track-record in sales. You will be selling a software product by phone and giving online demonstrations designed to help insurance agents close more prospective high end personal lines accounts and enhance risk management services to their existing high end accounts. We are searching for an enthusiastic self-starter with the drive and determination to succeed. Insurance experience a plus but not a requirement.

If you consider sales a worthwhile career and want to be part of an industry-respected team, please contact us.

New Expert Commentary

There are 1,300+ risk management and insurance articles on IRMI.com. Below you'll find summaries of some recent additions with links to the articles.

Is an Occurrence the Bodily Injury or Property Damage?—Does the cause or the effect determine the deductible? Craig Stanovich looks at CGL and excess policy issues.
Ten Elements of Safety Excellence—Peter Furst addresses risk associated with worker injuries, how it is managed, and ways to improve the process.
Soft Market Seemingly Hits Bottom, According to RIMS—The Benchmark Survey shows three of four lines posting increases in average premium in the third quarter.
Militarization of Cyber Space and the Risks for U.S. Businesses—Traditional risk management principles and practices are ineffective against cyber risks, warns Gary Clayton.
The Next Level of Business Income Coverage—When evaluating potential loss scenarios, Timothy King says it is important to consider off-premise events.
You Can't Lead If No One Is Following You—Corbette Doyle explains why leaders and followers are like dance partners—success is mutually dependent on the actions of both.

What's New in Your IRMI Library

Is it Mobile Equipment or an Auto?

Nearly 8 years ago, the approach for determining whether liability from a vehicle was covered by a commercial general liability (CGL) or auto insurance policy was altered to focus on motor vehicle laws. Since day one, this new approach has challenged insurance professionals.

A new discussion of the auto/mobile equipment issue has been added to Commercial Auto Insurance to explain how state uninsured/underinsured motorists, financial responsibility, compulsory liability, and motor vehicle registration laws are organized to provide different levels of regulation depending on the degree of risk a vehicle poses to the traveling public. It shows how the business auto and CGL policies were designed to cover "high-risk" and "low-risk" vehicles, respectively, and analyzes some court cases that have had an effect on how the term "mobile equipment" is currently defined under the CGL and commercial auto policies. Exhibits show what a detailed analysis of state laws on the issue would look like and offer an organized process for determining whether a particular vehicle is an "auto" or "mobile equipment" in the state where it is licensed or principally garaged. If you subscribe to Commercial Auto Insurance, you will want to put this knowledge to use.

For summaries of other new and updated information in your IRMI library, go to What's New on IRMI Online or What's New in ReferenceConnect.

IRMI Featured Publication

6th Edition of The Additional Insured Book

The Additional Insured Book examines approaches, problems, and caselaw associated with additional insured endorsements for property and liability insurance. You'll get suggestions for modifying coverage to correspond with contractual risk transfers and a better understanding of the troublesome areas of manuscript or insurer-drafted additional insured endorsements. The sixth edition of this best-selling book has over 300 case citations and is relied on by risk, legal, claims, and underwriting professionals to determine how the endorsements apply to specific situations. See the table of contents and order today.

IRMI Update

In This Issue

Jack

IRMI Seeks Full-Time Salesperson

New Expert Commentary

Is it Mobile Equipment or an Auto?

6th Edition of The Additional Insured Book

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