Cyber Liability Insurance: An Essential and Urgently Needed Business Investment
Overview:Cyber Liability Insurance is a relatively new product that is developing rapidly due to increasing frequency and sophistication of cyber-attacks. Stricter regulation and enforcement of cyber crime are making purchase of Cyber Liability & Data Risk Insurance a necessity for many companies.
Experian Inc. reports that almost 70% of business owners have yet to purchase some sort of insurance against cyber attack even though many business owners know cyber attack is a serious business risk. Many companies face significant costs from litigation following cyber attacks and even face the prospect of bankruptcy. In fact, The Gartner Group reports that 40% of all businesses experiencing data breaches are out of business within 6 months and 51% end business within two years following such cyber attacks.
In this webinar, experts in the fields of cyber crime, cyber crime regulation and enforcement, insurance, cyber law, and network systems security will explain the risks, the types of insurance, and why it is increasingly essential to purchase such insurance. Special topics for discussion include:
- Cyber Security Insurance Laws and Regulations
- Cyber Liability Market and Claims Trends
- Assessing Cyber Liability and Risks: Breach Litigation Issues
- Cyber Insurance Types and Coverage Needs
- Cyber Insurance Policies De-mystified
- Subrogation: Vendor and Business Partner Liability Claims
- Benefits of International Vulnerability Purchase Program
Tom Finan, Senior Cybersecurity Strategist and Counsel
US Department of Homeland Security
- Introductory segment Cyber security work that DHS has been doing – why DHS involved and future anticipated conversations
Helen A. Christakos, Senior Counsel and Chair of the IP, Privacy & Data Security Group
Carr, McClellan, Ingersoll, Thompson & Horn, PLC
- Setup background for law Overview of state data breach notification laws
Celeste M. King, Founding Partner
Walker Wilcox Matousek LLP
- Types of cyber coverage wording on insurance and re-insurance What policies supposed to cover
Brook Dutcher, Underwriting Manager
HCC Insurance Holdings, Inc.
- Introduction and progression of the coverage in the marketplace
- Where is the value in the coverage
- Diversity in coverage types
- A global marketplace
- Emerging guidance, standards of care and operational accountability: How does this effect risk assessment and how does this effect the cost of doing business?
Clay Segrest, Professional Liability Broker
CRC Insurance Services, Inc.
- Wholesale broker, risk placer.
- Why potential buyers say they’re fearful of breaches but there’s still a disconnect with end buyer – how to address that with policy suppliers
Who Should Attend:
- Chief Executives
- Chief Financial Officers
- Insurance Agents and Brokers
- Insurance Risk Adjusters and Claim Managers
- Cyber Security Professional
- Computer Security Specialists
Tom Finan is a Senior Cybersecurity Strategist and Counsel with the Department of Homeland Security’s National Protection and Programs Directorate, NPPD, where he leads work on cybersecurity insurance and cyber risk management in support of implementation of Executive Order 13636, “Improving Critical Infrastructure Cybersecurity.” Tom established DHS’ Cybersecurity Insurance webpage, accessible through the search engine of your choice, which includes a series of readout reports that describe DHS’ efforts in these areas. Previously, Tom led the effort to develop a resiliency-focused risk analysis and modeling office for NPPD that examines both cyber and physical threats to critical infrastructures, systems, and the public. Prior to his arrival at DHS, he served as the Staff Director and Counsel for the Subcommittee on Intelligence, Information Sharing and Terrorism Risk Assessment with the U.S. House Committee on Homeland Security where he advised the Subcommittee Chair, Congresswoman Jane Harman. Tom previously worked as an attorney for the FBI and in private litigation practice.
Tom Finan is a Senior Cybersecurity Strategist and Counsel with the Department of Homeland Security’s National Protection and Programs Directorate, …
Helen is an experienced business lawyer who represents clients in commercial transactions involving cutting edge intellectual property (IP) and technology issues. She brings a practical, business-oriented approach to advising companies ranging from global public companies to emerging start-up ventures in developing, licensing, selling, acquiring, protecting and commercially exploiting intellectual property and technology assets.
She also devotes a significant portion of her practice to advising clients in a wide variety of industries on privacy, data security and ecommerce matters. Helen works with companies to assess their legal obligations and risks and helps design and implement practical, cost-effective plans for mitigating such risks. Helen conducts numerous CLE presentations to update in-house counsel on changes in privacy and data security law.
In addition to her law practice, Helen is an Adjunct Professor at Santa Clara University School of Law, where she teaches J.D. and LL.M. level classes in Technology and Intellectual Property Licensing.
Helen is an experienced business lawyer who represents clients in commercial transactions involving cutting edge intellectual property (IP) and technology …
Celeste’s experience is with privacy risks and insurance. She advises insurers and reinsurers on coverage for privacy risks and breaches involving first and third party CGL policies, drafts policies and underwriting guidelines and prepares breach response strategies. Celeste counsels clients on state and federal regulations involving privacy laws, developments in case law and emerging issues such as standing to sue and recovery of reputational damages. She regularly deals with privacy risks to industries such as health care, legal and other professions, financial institutions, retail, insurance agents, public entities, education and energy.
Celeste is also an experienced reinsurance lawyer, counseling clients on treaty and facultative risks and representing clients in reinsurance litigation and arbitration.
Celeste is licensed in Illinois and District of Columbia and is AV Rated by Martindale-Hubbell.
Celeste’s experience is with privacy risks and insurance. She advises insurers and reinsurers on coverage for privacy risks and breaches …
Brook Dutcher is Specialty Underwriting Manager-Technology E & O/Cyber Insurance product manager with HCC Specialty in New York. Brook focuses on new product development, product growth and strategy for the company. Previously he was the Technology E & O/Cyber Insurance product manager for NAS Insurance in California. He underwrote various lines and programs with Axis Insurance and with ACE Westchester in Atlanta. Prior to his career in insurance, Brook worked extensively in banking.
Brook Dutcher is Specialty Underwriting Manager-Technology E & O/Cyber Insurance product manager with HCC Specialty in New York. Brook focuses …
Mr. Segrest is a wholesale broker for CRC Insurance Services, Inc. specializing in Professional Liability, Executive Risk/Management Liability, and Network Security & Privacy Liability. He has played an instrumental role in his company’s efforts to expand its presence and influence in the Cyber Security & Privacy Liability marketplace. He has lectured the Alabama Independent Insurance Agents Association on this topic and he has helped lead CRC’s commitment to the growth and development of Cyber Liability products for producers and their clientele. As demand for Cyber coverage increases, CRC continues to provide complex risk solutions for insured’s realizing the magnitude of the exposure. Mr. Segrest received his Masters of Business Administration Degree from the University of Alabama at Birmingham and his undergraduate degree from Birmingham-Southern College.
Mr. Segrest is a wholesale broker for CRC Insurance Services, Inc. specializing in Professional Liability, Executive Risk/Management Liability, and Network …
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
NASBA Field of Study:
Specialized Knowledge and Applications
NY Category of CLE Credit:
Areas of Professional Practice
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
US Department of Homeland Security
About US Department of Homeland Security
About Carr, McClellan, Ingersoll, Thompson & Horn, PLC
For companies that require the highest caliber of legal expertise coupled with a responsive and results driven approach, Carr McClellan is the boutique California business and business litigation law firm offering top-tier expertise and a full range of legal services. Carr McClellan serves both public and private companies, staying focused on the business objectives while giving clear advice and maintaining a flexible and practical approach to solving our clients’ business and legal matters. We remain deeply engaged in our clients’ businesses, tackling every issue with energy and initiative and we offer advice and solutions that work in the real world.
About Walker Wilcox Matousek LLP
Walker Wilcox Matousek LLP, a Chicago-based law firm with offices in Houston, Texas, is at the forefront of the dynamic area of privacy law. WWM counsels clients on coverage for privacy risks under privacy, technology, first party, third party CGL policies and reinsurance contracts. WWM has been involved with privacy risks involving law firms, hospitals, financial institutions, retail, non-profit organizations, municipalities and schools.
About HCC Insurance Holdings, Inc.
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. is a leading specialty insurer with offices in the United States, the United Kingdom, Spain and Ireland. As of March 31, 2014, HCC had assets of $10.6 billion and shareholders' equity of $3.8 billion. HCC's major domestic and international insurance companies have financial strength ratings of "AA (Very Strong)" from Standard & Poor's Corporation, "A+ (Superior)" from A.M. Best Company, Inc., "AA (Very Strong)" from Fitch Ratings, and "A1 (Good Security)" from Moody's Investors Service, Inc.
For more information about HCC, please visit https://www.hcc.com.
About HCC Specialty
Headquartered in Wakefield, Massachusetts, HCC Specialty is among the industry’s leading managing underwriters of innovative specialty insurance products, including: high limit disability, professional liability, public entity, crisis management, contingency, DIC, prize indemnity and special program business. HCC Specialty, a division of HCC Insurance Holdings, Inc., is comprised of HCC Specialty Underwriters, Inc., Professional Indemnity Agency, Inc., G.B. Kenrick & Associates, Inc. dba Kenrick Corporation, InsPro Corporation and HCC Public Risk.
For more information please visit https://www.hcc.com/specialty
About CRC Insurance Services, Inc.
CRC was founded in 1982 and specializes in Property, Casualty, and Professional risks. CRC’s extensive market experience allows it to draw on a wide range of resources from across the country and around the world. Created through the combination of CRC and Crump in April 2012, the new CRC Wholesale Group expanded to 1,800 employees and 50 offices nationwide. CRC’s Professional Liability Department - CRC-PRO - is a mainstay leader in Surplus Lines Market placement and innovation.