Cyber & Data Risk Insurance

Thursday, September 27 to Friday, September 28, 2012

New York Marriott Downtown, New York, NY

The Fundamentals of Cyber and Data Risk Coverage

Robert Parisi, Jr.
Senior Vice President, National Practice Leader
Tech/Telecom E&O and Network Risk
Marsh FIN PRO

This workshop will provide participants with detailed information on all of the legal and coverage concerns impacting Cyber and Data Risk insurance policies. Those new to Cyber and Data Risk insurance coverage can be easily overwhelmed by the complex language, terms and conditions contained in policies. It is imperative for those involved in the claims process to understand what constitutes a claim, what is being covered and what risks the company is exposed to. Whether you are a broker, underwriter, insurer, risk manager or counsel, participants will come away from this session with a fi rm grasp on the nuts and bolts of the issues associated with Cyber and Data Risk Insurance, including:

• What is Cyber insurance? And why isn’t my current insurance enough?
– Why traditional insurance policies such as CGL don’t work;
– Why your current property insurance may not cover the direct costs of the data breach
• How cyber and data risk insurance really works
– Basics of cyber insurance policies
• What should they expect to see (first and third party coverages)
• What common limitations/exclusions are found
• Understanding the language used in the policies
– Key provisions to look for (coverage, definitions and exclusions)
• Overview on guidance from claim to post-breach costs
– Types of damages a company may face — direct and indirect
– Differences in costs, loss mitigation, etc. when a plan is in place to handle a breach event versus no plan
• Answers to your basic coverage questions
– Why this coverage is important, even if you are not selling
anything over the internet or actively collecting data



Negotiating and Draft ing Cyber Risk Provisions and Policies

Kelly Geary
Sr. Vice President, Legal Counsel & Head of Claims
HCC Specialty

Richard Bortnick
Member
Cozen O’Connor

David Lewison
GST — Financial Services Practice Support Leader
AmWINS Brokerage Group

Marc Loewenthal
Director
Promontory Financial Group, LLC

Lori Nugent
Co-Chair, Data Security & Privacy Practice
Wilson Elser Moskowitz Edelman & Dicker LLP

Now in its 6th year, this highly popular session will provide the opportunity to put all the information together in a practical exercise, as the speakers will walk you through the ins–and–outs of negotiating, drafting and managing claims for this highly specialized coverage to address your needs and needs of your clients. The session will allow you to identify and address problematic areas, map out coverage issues and get your questions answered. Topics include:

• Determining the scope of coverage: 1st v. 3rd party coverage and loss
• Trigger for 1st party and 3rd party notification and loss
• Claims made and reported for privacy and information breaches
• Data breaches related to third party vendors
• Drafting policies, provisions, and clauses to ensure coverage for data breaches related to third party vendors
• Detecting — and clarifying uncertainties in the contract language
• Defining key terms: which are most problematic later
• Key clauses and considerations
• Significant exclusions — and how to word them
• Using clear language that addresses unusual or high risk situations
• Manuscript policy/customization/interpretive letters: appropriate use

Brochure

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Location:
New York Marriott Downtown
New York, NY