Cyber Liability Insurance: Types of Coverage, Application Process, Premiums, Claims, Market Trends, Avoiding Pitfalls

Description

Organizations both large and small that use any form of technology to do business face cyber risks, which are not covered by most business insurance plans. Cyber liability insurance is a vital part of an organization's initial incident response planning and helps cover the costs associated with data breaches and other cybersecurity incidents, including forensic investigations, litigation and legal expenses, ransomware attack payments, public relations vendors, credit monitoring for customers, responding to government investigations, and regulatory fines.

While there are many different cyber policies written by insurance providers, there is not one standard form. Every organization should obtain a policy with coverage that is customized to meet their specific business needs and risk exposure.

Data privacy and cybersecurity counsel must understand the various policies and coverages currently available to advise their clients in making coverage selections that will adequately protect their client's business interests. Also, when a cybersecurity incident occurs, counsel must be able to effectively advise their clients as they navigate each step of the claims process.

Listen as our authoritative panel provides a practical overview of the latest trends and developments in cyber liability insurance and offers guidance on assisting clients in selecting the right coverage and guiding them through the claims process.