Criminals are casing our computers. This presentation provides a broad overview of cyber liability insurance as a risk financing method of protecting your balance sheet.

1. PROTECTING THE BALANCE SHEET
CRIMINALS CASING COMPUTERS

2. FIRST LINE OF DEFENSE:
DEVELOP, IMPLEMENT AND
MONITOR SECURE SYSTEMS
AND EFFECTIVE HUMAN
STRATEGIES

3. SECURE NETWORK
ENCRYPTION
GUARDING INFORMATION
PROTOCOLS
TRAINING
TESTING & AUDITS
POST-BREACH PLAN
VIGILANCE

4. THE UNFORTUNATE REALITY

5. BAD GUYS GETTING
BETTER
SYSTEMS FAIL
PROTOCOLS NOT
ALWAYS FOLLOWED
PEOPLE MAKE
MISTAKES

6. WHEN BAD STUFF HAPPENS:
TWO CHOICES…

7. ACCEPT RISK:
PAY LOSSES DIRECTLY
FROM YOUR PROFITS
AND BOTTOM LINE

8. TRANSFER RISK:
FINANCIAL TRANSFER
THROUGH AN
INSURANCE PRODUCT

9. .
MATURE INDUSTRY:
COURT TESTED WORDING
PRICED BY ACTUARIES
CYBER NOT CONTEMPLATED
& USUALLY EXCLUDED

10. .
NEW TECHNOLGY:
NEW RISKS
INDUSTRY RESPONDS WITH
NEW PRODUCTS

11. COVERAGE GRANTS
POLICY WORDING
EXCLUSIONS

12. FIRST PARTY:
COVERS THE POLICYHOLDER
FOR COSTS THEY SUSTAIN
AFTER A BREACH OF THEIR
SYSTEMS, OR A REPORTABLE
PRIVACY INCIDENT

13. REGULATORY PROCEEDINGS
PRIVACY NOTIFICATION AND
CREDIT MONITORING COSTS
SYSTEM DAMAGE & DATA
CORRUPTION
BUSINESS INTERRUPTION &
EXTRA EXPENSE

14. EXTORTION
POST BREACH COACHING
BRAND PROTECTION
FORENSICS EXPENSE

15. THIRD PARTY:
COVERS THE POLICYHOLDER
FOR LIABILITY TO OTHER
ENTITIES WHEN A BREACH
OCCURS – DEFENSE AND
COVERED DAMAGES

16. INFORMATION SECURITY &
PRIVACY LIABILITY –
COVERED DAMAGES AND
DEFENSE
VIRUS/HACKING LIABILITY
INTERNET MEDIA LIABILITY
PCI FINES AND COSTS
INTELLECTUAL PROPERTY

17. CRIME COVERAGE:
COMPUTER FRAUD
SOCIAL ENGINEERING

18. COVERAGE GRANTS
POLICY WORDING
EXCLUSIONS

19. COVERAGE TRIGGER
DEFINE BREACH & CLAIM
SYSTEM DAMAGE
MINIMUM STANDARDS
ENCRYPTIONS
PAPER RECORDS
DEFENSE COUNSEL
ATTORNEY CLIENT PRIVILEGE
PRESERVATION OF EVIDENCE

20. COVERAGE GRANTS
POLICY WORDING
EXCLUSIONS

21. FRAUD/DISHONESTY
FAILURE TO DISCLOSE
CELL PHONES/LAPTOPS
WIRELESS NETWORK
CALL BACK VERIFICATION
E&O OF THIRD PARTY
TERRORISM

26. GREAT DECISIONS
ARE PROACTIVE
AND INFORMED,
NOT INACTIVE
AND BY DEFAULT