Cyber-Insurance: Understanding the New System
The unabated cyberattacks are causing significant damages and sizable incident response cost to companies, and according to a research, these risks are expected to skyrocket the nascent Cyber-Insurance market by U.S. $10 billion in 2020. More and more companies are now seriously considering the transfer of their cyberattack risks to insurance providers. In a short span of time, Cyber-Insurance has become a vital part in corporate breach response and is indeed a critical need in this era of rising cyber assaults.
Although organizations should strongly consider Cyber-Insurance, they should also be well-versed with the fundamental know-hows before they purchase a policy. It is important that they ensure a detailed system tailored to their risk profile and ascertain that they obtain the cyber insurance coverage that fits with the risks and liabilities which they will encounter in an event of a data breach.
In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders will help enterprises understand the important aspects of this significant topic. They will provide an in-depth discussion of the Cyber-Insurance market trends and offer best practices in selecting the best cyber-insurance coverage based on the enterprises’ specific needs.
Key topics include:
- The Cyber-Insurance Market Trends
- Cyber-Insurance Coverage and Limitations
- Remediation Costs
- Regulatory Forecasts
- Best Practices in Purchasing Cyber-Insurance Policy
David S. Sheiffer, Partner
- First part versus third part coverage under cyber policies. Data Breach and third part claims.
- The internet of things – how cyber raises new and discrete risks
- Cyber and other insurance- the overlaps of Cyber, Media, GL and E&O coverage.
- Cyber risks and employees
- Coverage for specialized risks, Health Care, Lawyers and Accountants
Robert D. Laurie, Partner
Seiger Gfeller Laurie LLP
- The sharing of information with your insurance carrier: (1) pre-incident cybersecurity risk assessment, and (2) privately-commissioned post-incident forensic investigation; and
- Subrogation under cyber policies.
Andrew N. Bourne, Partner
Hoguet Newman Regal & Kenney, LLP
- Potential pitfalls in cyber-insurance policies – from the Policyholder’s perspective.
- The application process and its potential impact on coverage.
Who Should Attend:
- Insurance Agencies
- Insurance Advisers
- Cyber Security Lawyers
- Cyber Security Professionals
- Chief Information Officers
- Chief Security Officers
- Top Level Management
- Data Privacy Officers
- Private and Public Companies
- Legal Counsel
- Other Related/Interested Professionals and Organizations
Andrew N. Bourne, a partner of the firm, focuses on representing corporate and individual policyholders in insurance recovery and has represented a wide range of clients in federal and state courts across the country. Recognized by New York Super Lawyers – Metro Edition© as a 2013, 2014, and 2015 “Rising Star” in insurance, Mr. Bourne has negotiated settlements and litigated cases involving a wide range of insurance contracts, including commercial general liability, directors and officers, errors and omissions, property and business interruption, professional liability, cyber liability, and multimedia errors and omissions policies, as well as fidelity bonds. Over the course of his career, Mr. Bourne has helped secure hundreds of millions of dollars in coverage for policyholders through negotiation and settlement, arbitration, and litigation.
More detail about Mr. Bourne’s background can be found at: https://www.hnrklaw.com/our-attorneys/ANDREW_BOURNE/
Andrew N. Bourne, a partner of the firm, focuses on representing corporate and individual policyholders in insurance recovery and has …
Bob Laurie is a founding partner of Seiger Gfeller Laurie LLP, residing in its West Hartford, Connecticut office. Bob practices primarily in the area of general complex commercial litigation. Among other clients, he represents domestic and international insurance companies in disputes concerning coverage determinations, bad faith/extra-contractual claims, reinsurance, life insurance and related financial products. Bob is a trial lawyer who has successfully presented cases in various state and federal courts as well as in domestic and international arbitration and mediation proceedings. Bob recently obtained a victory before the Connecticut Supreme Court in a highly publicized data breach insurance coverage dispute. In addition to litigation, Bob advises clients on the construction and wording of various types of insurance and reinsurance agreements, including specialized products and manuscript forms. Bob also frequently assists a national commercial lending institution in lending transactions for mergers, acquisitions, loss portfolio transfers, commutations and other business opportunities within the insurance and reinsurance marketplace.
Bob Laurie is a founding partner of Seiger Gfeller Laurie LLP, residing in its West Hartford, Connecticut office. Bob practices …
David Sheiffer is a partner in Wilson Elser’s New York office. He represents leading insurers nationwide in high-profile, high-value complex coverage matters. Keeping his practice current with technology and the way business is conducted, David is involved in the dynamic field of insurance for all forms of media and cyber liability. In addition, he defends professionals in liability matters and handles the direct defense of employment claims. His practice encompasses trial and appellate work before various federal and state courts, and he represents his substantial client base in arbitrations and before government agencies and professional associations. David’s definitive style and persona helped create Wilson Elser’s national reputation in the insurance coverage space – a practice at Wilson Elser that he founded – and he continues to be an influencer within the industry as well as across the firm and the legal community.
David Sheiffer is a partner in Wilson Elser’s New York office. He represents leading insurers nationwide in high-profile, high-value complex …
Print and review course materials
Method of Presentation:
NASBA Field of Study:
Specialized Knowledge and Applications
NY Category of CLE Credit:
Unlock All The Knowledge and Credit You Need
Leading Provider of Online Continuing Education
It's As Easy as 1, 2, 3
Get Your 1-Year All Access Pass For Only $199
About Hoguet Newman Regal & Kenney, LLP
Hoguet Newman Regal & Kenney, LLP is a litigation boutique founded by senior trial lawyers dedicated to using their decades of experience to represent clients faced with sophisticated and demanding legal issues effectively and responsively in a small firm setting. The attorneys in the firm’s Insurance Coverage Litigation and Counseling Practice represent policyholders across a variety of industries and have substantial experience with complex insurance programs, often comprised of diverse types of insurance policies issued by numerous insurers and extending back many decades. We routinely advise, evaluate, negotiate and, if necessary, litigate insurance coverage disputes involving a wide range of claims and policies, including property insurance, business interruption coverage, third-party liability insurance for environmental, products, asbestos and other claims, as well as claims under Directors & Officers liability policies, claims under professional liability or Errors & Omissions insurance, employment practices liability claims, multimedia errors and omissions claims, cyber liability claims, and claims under fidelity bonds.
About Seiger Gfeller Laurie LLP
Seiger Gfeller Laurie (“SGL”) is a boutique law firm comprised of litigators from some of the largest law firms in the United States. SGL provides litigation and counseling to clients in a broad array of markets, including financial services, sports and recreation and manufacturing, including medical devices. Among other clients, SGL is national or regional counsel to a number of insurance companies, including life, health and property and casualty. SGL attorneys have significant experience in coverage and claims litigation and advice, ranging from coverage determinations, claims handling and defense of claims (including trial and appeals) to coverage and bad faith litigation. SGL attorneys have represented insurance companies in some of the highest-profile insurance coverage disputes, including disputes arising from the September 11th attacks on the World Trade Center and the Central Artery / Tunnel Project (“Big Dig”) in Boston, Massachusetts. SGL has commenced and defended declaratory judgment actions (and arbitrations) in numerous jurisdictions across the U.S. and in a wide scope of product lines. SGL attorneys also regularly assist domestic and international insurance companies with regulatory compliance, product development, risk management and policy construction.
About Wilson Elser
Wilson Elser, a full-service and leading defense litigation law firm, serves its clients with nearly 800 attorneys in 30 offices in the United States and one in London. Founded in 1978, it ranks among the top 200 law firms identified by The American Lawyer and is included in the top 50 of The National Law Journal's survey of the nation's largest law firms. Wilson Elser serves a growing, loyal base of clients with innovative thinking and an in-depth understanding of their respective businesses.