Insurance for cyber and privacy threats has become a critical component of every company's risk management program. The risk of cyber-related losses is substantial and ever-changing, but coverages are not standard and evolve rapidly to respond to new market dynamics. It is important to understand the contours of potential cyber coverage under traditional and more recent cyber policy forms. These coverages' impact on litigation and opportunities for settlement of claims are key issues for consideration. In this session, participants will learn:
CORE QUESTIONS:
- ...key concepts about cyber and privacy coverage and how these coverages fit with traditional forms of insurance, as well as basics about cyber and privacy risks;
- ...issues to watch with respect to policy wording, including important exclusions, coverage for regulatory oversight, control of defense and coverage for BIPA (Biometric Information Privacy Act (Illinois)) claims; and,
- ...insights on how ransomware, business interruption and other cyber claims present for litigation and settlement
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.