Cybersecurity Insurance: Recent Trends in Regulatory and Coverage Issues (Self-Study)

Course Description

This session will provide an overview of cybersecurity issues in the insurance industry.  The panelists will consider the development and implementation of new cybersecurity regulations that apply to insurance companies, agents, brokers, and other insurance entities, and look at compliance strategies and pitfalls.  Panelists will further discuss some best practices for reducing cyber risk, including adoption of legal defensibility strategies and purchase of cyber liability insurance.  Finally, panelists will consider the state of the cyber liability market and where things are potentially headed.

Principles

• Cybersecurity regulation
• Data breach mitigation strategies
• The cyber liability marketplace.

Syllabus

1. Cybersecurity regulation.
         a. Development and adoption of the New York cybersecurity rule and the NAIC model law.
         b. Other state and NAIC activity.
         c. Federal and international influences.
2. Data breach mitigation strategies.
         a. Best practices.
         b. Corporate governance and cybersecurity.
         c. Legal defensibility.
3. The cyber liability marketplace.
         a. Profile of cyber insurance providers.
         b. Available coverages.
         c. Future trends.

Instructors

David Finz, Esq.
Paul Ferrillo, Esq.
Fred E. Karlinsky, Esq.