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ACI : Conference-Papers : 2008 : Cyber Risk Insurance

Cyber Risk Insurance

Underwriting and Claims Strategies for Managing Internet, Data and Network Risk and Liability

Tuesday, September 25, 2007

About

Are you in a position to take advantage of the opportunities and growth in cyber risk insurance - while managing the liabilities?

As privacy and security breaches continue to make the headlines, many in the industry are poised to take advantage of rapid growth in this quickly evolving area. TJX, CardSystems, ChoicePoint… in 2006, the number of data breach victims exceeded 100 million. With TJX continuing to unfold and other breaches certain to happen, it’s clear that cyber risk insurance will continue to be a growth area, as companies become aware of the risks and costs associated with breaches, and other cyber risks, such as hackers, business interruption, third party vendors and the like.

Products in this area are greatly varied - and are continuing to evolve as technology changes. And, more insurers are getting into the game. It’s imperative that you ensure that you have the tools you need to evaluate the competition, properly assess, price, and mitigate risk, and evaluate your profitability in this rapidly changing area.

In response to these changes and challenges, ACI developed this valuable industry forum, where brokers, underwriters, carriers and product managers and others in the cyber-risk insurance industry can convene and get critical information for staying ahead of the curve.

ACI’s Cyber Risk Insurance publication, will teach you how to benchmark your products and coverage against other offerings and gain valuable information on trends in litigation, government regulation, and other developments, to enable you to shape your coverage and ensure profitability.

    Contents & Contributors

    About

    Are you in a position to take advantage of the opportunities and growth in cyber risk insurance - while managing the liabilities?

    As privacy and security breaches continue to make the headlines, many in the industry are poised to take advantage of rapid growth in this quickly evolving area. TJX, CardSystems, ChoicePoint… in 2006, the number of data breach victims exceeded 100 million. With TJX continuing to unfold and other breaches certain to happen, it’s clear that cyber risk insurance will continue to be a growth area, as companies become aware of the risks and costs associated with breaches, and other cyber risks, such as hackers, business interruption, third party vendors and the like.

    Products in this area are greatly varied - and are continuing to evolve as technology changes. And, more insurers are getting into the game. It’s imperative that you ensure that you have the tools you need to evaluate the competition, properly assess, price, and mitigate risk, and evaluate your profitability in this rapidly changing area.

    In response to these changes and challenges, ACI developed this valuable industry forum, where brokers, underwriters, carriers and product managers and others in the cyber-risk insurance industry can convene and get critical information for staying ahead of the curve.

    ACI’s Cyber Risk Insurance publication, will teach you how to benchmark your products and coverage against other offerings and gain valuable information on trends in litigation, government regulation, and other developments, to enable you to shape your coverage and ensure profitability.

      Contents & Contributors

      THE BETTERLEY REPORT 2007: CHANGING COVERAGE, NEW EXPOSURES
      Richard S. Betterley, CMC, Betterley Risk Consultants, Inc. (Sterling, MA)

      PROTECTING DATA FROM EXTERNAL THREATS IN A RAPIDLY CHANGING TECHNOLOGY ENVIRONMENT
      Narender Mangalam, Crimson Security (Hauppauge, NY)

      ASSESSING, IDENTIFYING AND QUANTIFYING CYBER RISK
      Tracey Vispoli, Chubb (Warren, NJ)
      Mark Greisiger, Net Diligence (Philadelphia, PA)
      Simon Oddy, RGL - Forensic Accountants & Consultants

      FRONTLINE PERSPECTIVE: CYBER RISK & LOSS PREVENTION
      Mark Greisiger, Net Diligence (Philadelphia, PA)

      THIRD PARTY VENDORS AND SUPPLIERS: LIMITING LIABILITY FOR THIRD PARTY ACTS OR OMISSIONS
      Oliver Brew, Hiscox USA (New York, NY)

      THIRD PARTY VENDORS AND SUPPLIERS: THOUGHTS FROM THE TRENCHES
      Jon A. Neiditz, Lord Bissell Brook LLP (Atlanta, GA)

      ENSURING AN EFFECTIVE INCIDENT RESPONSE PLAN: MITIGATING DAMAGES IN THE EVENT OF A BREACH
      Lori S. Nugent, Cozen O’Connor (Chicago, IL)

      RESOLVING CLAIMS MADE UNDER CYBER-RISK POLICIES
      Anne De Vries, Digital Risk Managers (Portland, OR)
      Josh M. Kantrow, Cozen O’Connor (Chicago, IL)