Cyber Liability Insurance: Costs, Coverage and Things You Need to Know
For the past years, cyber attacks, data breaches, ransomware and other threats created by technology and the internet have been a common sight for privacy and security professionals. As developments and innovations from this industry continue to proliferate, the amount of risks and complexities facing businesses significantly increases. Thus, creating panic and distress for companies, individuals, and organizations.
To avoid severe financial losses skyrocketing up to 15 million dollars with a growth rate of 19% a year and other unwanted costs and reputational damage, small and large scale businesses invest and acquire cyber liability insurances to mitigate risk exposure and be able to meet the business' varied needs. Cyber liability insurance coverage does not guarantee and offer all safety mechanisms and warranty but it covers the costs of the investigation process and helps the business in recovering losses.
In this LIVE Webcast, a seasoned panel of thought leaders and professionals assembled by The Knowledge Group will walk through the most important issues and trends in Cyber Liability Insurance. Speakers will also identify key aspects concerning costs, coverage, and other things you need to know about this remarkable topic.
Key topics include:
- Cyber Liability: Fundamentals
- Cyber Liability Insurance Coverage (CLIC)
- Identifying Risks and Legal Challenges
- Types of Cyber Insurance
- Opportunities and Underlying Pitfalls
- Costs, Coverage, and Premiums
- Recent Trends and Developments
SEGMENT 1 & 2:
Katherine J. Henry, Partner
- Negotiating Cyber Coverage
- Negotiating policy language
- Avoiding potential coverage limitations
- Addressing coverage gaps between policies
- Preparing for Potential Claims and Avoiding Coverage Disputes
- Obtaining pre-approval for key vendors (forensic specialists, crisis management, counsel, etc.)
- Incorporating coverage considerations into incident response plans
- Presenting claims to maximize insurance recovery
Roberta D. Anderson, Director
Cohen & Grigsby, P.C.
- Gaps in coverage under cyber and traditional policies
- Practical tips for negotiating coverage
- New insurance solutions
SEGMENT 3 & 4:
John Nonna, Partner
Squire Patton Boggs
- Policies and Coverage
- Recent Case Laws
P. Benjamin Duke, Partner
Covington & Burling LLP
- Litigation update – lessons of recent cases
- Pitfalls of the application process
- Impact of prevalence of cyber insurance on other coverages (D&O, E&O, crime, etc.)
- Role of cyber insurance in your overall cyber security program
Who Should Attend:
- Defense and Insurance Attorneys
- Insurance Litigation Lawyers
- Corporate Managers
- Business Owners
- In-House Counsel
- Risk and Compliance Managers
- Senior Officers from Insurance Companies
- Insurance Procurement and Payment Managers
John Nonna litigates complex commercial disputes, particularly those involving insurance and reinsurance, involving a range of business matters. John is particularly well-known for his work in complex insurance and reinsurance disputes and he has handled several of the largest reinsurance arbitrations on record.
As a litigator, John is known for his innovative approaches to complex cases. He has tried jury and non-jury cases in the areas of accountants’ malpractice, fraud, breach of fiduciary duty, breaches of warranties and representations, employment discrimination, distributorship agreements, stock and asset purchase agreements, and M&A disputes.
John is a Fellow of the American College of Trial lawyers. He has lectured at numerous conferences on topics including trial practice, arbitration and mediation, insurance and reinsurance coverage, commercial torts and the attorney-client privilege.
John served as Mayor of Pleasantville, New York and as a Westchester County Legislator where he chaired the Legislation Committee.
John Nonna litigates complex commercial disputes, particularly those involving insurance and reinsurance, involving a range of business matters. John is …
Ben Duke helps insurance policyholders protect and enforce their coverage rights through advice, negotiation, and litigation. Mr. Duke has secured major recoveries through coverage litigation in numerous courts, and has advised clients in a wide range of disputes and other matters involving all types of insurance, including D&O, professional liability, fidelity bonds, and other specialized coverages. He represents policyholders in many industries, including technology, energy, and pharmaceuticals, and has particularly deep experience with financial institutions and other companies in the financial services sector. In his coverage practice, Mr. Duke also brings to bear extensive trial and other experience handling litigation and arbitration on behalf of financial institutions and other entities in securities-related and other complex financial disputes.
Ben Duke helps insurance policyholders protect and enforce their coverage rights through advice, negotiation, and litigation. Mr. Duke has secured …
Katherine Henry is the Chair of the Policyholder Insurance Coverage team. Katherine’s practice focuses on meeting clients’ business objectives in matters involving insurance. She regularly advises Fortune 10 and other companies on complex insurance programs involving manuscript and specialty policies, including programs with multi-national coverage towers of $500 million to $1 billion, and programs incorporating various risk transfer and financing mechanisms, such as fronting programs, paid deductible programs, and collateral agreements. Her practice spans all aspects of policyholder insurance coverage, from initial policy placement and renewals to claims management and litigation both in the United States and abroad. Her past and present policyholder clients include two of the world's largest automakers, the world's largest home improvement specialty retailer, an auto insurance company, a vacuum cleaner manufacturer, a quasi-governmental defined benefit plan, numerous healthcare-related entities, a private-equity investment firm, various banks and financial institutions, and a national trade association for the gases and welding industry.
Katherine Henry is the Chair of the Policyholder Insurance Coverage team. Katherine’s practice focuses on meeting clients’ business objectives in …
Print and review course materials
Method of Presentation:
Experience in data security and privacy law or insurance law
NASBA Field of Study:
Finance - Technical
NY Category of CLE Credit:
Areas of Professional Practice
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About Squire Patton Boggs
Ranked as one of the top 10 most global firms, the firm provides insight at the point where law, business and government meet, giving clients a voice, supporting their ambitions and committed to working alongside them to achieve successful outcomes.
A multidisciplinary team of more than 1,500 lawyers in 46 offices across 21 countries provides unrivaled access to expertise, guidance and invaluable connections on the ground. It is a seamlessly connected service that operates on any scale – locally or globally – and encompasses virtually every matter, jurisdiction and market.
The firm’s solutions are shaped by a clear, commercially focused understanding of clients’ business goals, while its robust and open culture enables it to find the right answers quickly and effectively from a team of lawyers who understand the geographic, sector or issue-specific challenges.
About Covington & Burling LLP
Covington & Burling LLP is a full-service firm with approximately 850 lawyers in offices in Beijing, Brussels, London, New York, San Diego, San Francisco, Seoul, Shanghai, Silicon Valley and Washington. Covington practices as one firm, holding closely to core values that start with a deep commitment to our clients and the high quality of our work on their behalf, and that include an emphasis on teamwork among our lawyers and other professionals and a belief in the obligation of lawyers to make legal services available to all who need them.
Bradley is a national law firm with a reputation for skilled legal work, exceptional client service, and impeccable integrity. The firm provides business clients around the world with a full suite of legal services in dozens of industries and practice areas. Their nine offices are located in Alabama, Florida, Mississippi, North Carolina, Tennessee, Texas, and the District of Columbia, giving us an extensive geographic base to represent clients on a regional, national, and international basis. We frequently serve as national coordinating counsel, regional counsel, and statewide counsel for clients in various industries.
Although Bradley is a large law firm with over 500 lawyers, their clients still enjoy the personal attention, responsiveness, and deep relationships they would expect from a boutique firm. The fimr’s attorneys and staff combine legal experience and knowledge with sophisticated understanding of industries to work side by side with clients and come up with practical, strategic solutions specifically tailored to their businesses and operations. Bradley lawyers use their talents, judgment, work ethic, and experience to go above and beyond expectations to help our clients meet their goals.