Emerging Threats and New Areas of Coverage: Growing Risk of Security Breaches as It Relates to the IOT and a Brief Examination of whether or not There Is Coverage under Cyber Policies for the Theft of Intellectual Property, the Next Generation Ransomware, and the Cyber Terrorism

November 30, 2016 5:25pm

Wendi Boyden
Vice President
OneBeacon Technology Insurance

Eric Cernak
VP, Cyber Risk Practice Leader
The Hartford Steam Boiler Inspection and Insurance Co.

Sharon R. Klein
Partner
Pepper Hamilton LLP

William T. Um
Counsel
Kilpatrick Townsend & Stockton LLP

  • What new areas are being looked at?
  • How are these new risks being thought about from an insurance perspective?
  • As the number of connected devices is increasing exponentially, how to manage securely? How has IOT changed the framework of coverage? How is it forcing the insurance market to evolve?
  • Is there coverage under cyber policies for stealing of ideas? How should it be covered?
  • Responding to the next generation ransomware and new attack scenarios
  • Are cyber policies going to cover cyber terrorism?
    • Underwriting challenges
    • Is an official government agency required to certify that an act is an act of terrorism?
    • Does cyber terrorism have an element of violence and does it truly fit into the criteria of terrorism?