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CEU for financial and insurance professionals – The high cost of cyber threats
May 19 @ 6:00 pm - 9:45 pm
This course explores cyber risks, cyber risk management and cyber risk insurance products and plans. It begins by explaining the scope and types of cyber threats present for businesses and consumers today. Evolving risk management principles that are used to control both tangible and intangible damage and loss from cyber-attacks and breaches are explored. The NAIC’s Insurance Data Security Model Law is presented, and the place of insurance and insurer’s cyber risk and response programs are considered. The need for insurance beyond traditional Commercial Property, CGL, Crime and Business owners coverages is identified. First and third-party cyber risk coverages are defined. Several cyber risk insurance plans are reviewed, including ISO’s standardized plans and many non-standard cyber insurance programs available. A look at the role of insurance related to cyber risks, such as identity theft coverage, Directors and Officers liability insurance, Errors & Omissions insurance and Crime coverage, conclude the course.