Description

On completion of this course, you should be able to reduce the likelihood of errors and omissions claims by:

 - Recognizing key areas of confusion inherent in cyber and privacy coverage, beginning with the fact that it is referred to under different names by different insurers.

 - Identifying the major types of third-party liability losses that result from cyber and electronic activities: (1) information security liability, (2) privacy liability, and (3) content liability.

 - Recognizing the major types of first-party property losses that result from cyber and online activities: (1) business interruption, (2) dependent business interruption, (3) extra expense, (4) data asset loss, (5) cyber extortion, (6) computer fraud, (7) funds transfer fraud, and (8) miscellaneous crime losses.

 - Recognizing how social media and cloud computing create many of the property and liability exposures noted above.

 - Identifying various loss control measures that can be applied to eliminate, or at least reduce, the extent to which a business can be financially impacted by these loss exposures. 

 - Recognizing how cyber and privacy insurance is rated by insurers and identify the key factors that underwriters consider in pricing the coverage.

 - Recognizing the effect of the key first-party property and third-party liability insuring agreements found within the policies.

 - Recognizing how the following types of provisions operate within a cyber and privacy policy: (1) insured persons/organizations, (2) defense/settlement, (3) limits, and (4) retentions.

 - Identifying the most important exclusions found within cyber and privacy forms, recognizing how different insurers’ versions of these same exclusions vary, and understanding how such differences impact the scope of coverage the policies provide.