IRMI Webinar

Cyber Coverage

This webinar builds on the principles set forth in "Cyber & Privacy Insurance Coverage Made Simple (r)."

"Cyber & Privacy Insurance: Beyond the Basics," begins with a brief, rapid review of the 7 key insuring agreements found within cyber and privacy policies. But the heart of the program is an in-depth examination of the policies’ more complex—and yet crucial—coverage wordings and common variations. During the webcast, we will analyze the: exclusions; limits/deductibles; defense; and claim trigger provisions contained within the forms.

Stand-alone cyber and privacy policies are written with minimum premiums as a high as $10,000, a price point that makes them difficult to sell to most small and even many medium-sized businesses. For this reason, the webcast also reveals a number of alternative and far-less-costly sources of cyber coverage, that have recently been made available within several other types of insurance policies.

"Cyber & Privacy Insurance: Beyond the Basics" also looks at a new policy development: one that covers cyber-related bodily injury and property damage, in addition to purely financial losses.

The webinar concludes by evaluating 3rd party vendors as a source of cyber losses. The importance of this area is underscored by the fact that an outside service provider was the apparent cause of the Target breach. This segment of the program explains how to minimize such exposures by means of: screening techniques; hold harmless agreements; and insurance requirements.

Webinar is Closed

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Topics Include

  • Exactly what is covered by the various insuring agreements and how such coverage differs from insurer-to-insurer.
  • How to select appropriate limits and deductibles.
  • Why exceptions to cyber policy exclusions are a crucial element on which to focus. 
  • Alternative, cost-effective sources for buying cyber coverage, that do not require purchasing a stand-alone (and more expensive) policy form.
  • Why, for certain businesses, obtaining coverage for bodily injury and property damage caused cyber intrusions may be an option worth considering.

Who Should Attend and Why

This webinar will help anyone who is faced with the threats posed by data breaches, denial of service attacks, loss of/damage to critical data from hacking and malware intrusions, Internet extortion attempts, or business interruption losses, all resulting from electronic exposures—whether as a risk manager, agent/broker, or underwriter.

Agents and brokers will learn how to clearly explain the essential aspects of cyber & privacy coverage to their clients and then craft the broadest, most cost-effective policy possible. Risk managers will receive the tools to pinpoint the exposures most likely to produce liability claims and property losses and then, design the program that best covers them. By deepening their understanding of cyber and privacy coverage forms, this webinar will assist risk managers in convincing senior management as to why cyber & privacy coverage is an essential element in their corporation’s portfolio of protection. Insurance company underwriters will learn how to create cyber and privacy liability programs that make the policies easier for their producers to sell.

Continuing Education Credit

Attending any three management liability insurance webinars will satisfy the annual reaccreditation requirement for the MLIS® program. CPCUs attending this webinar will be awarded one (1) CPD (continuing professional development) program point. This webinar has not been filed for and will not satisfy state insurance CE requirements in any state. It has also not been filed for CLE or CPE credit, but you may be able to self-file after attending the program.