advanced level cyber insurance coverage

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NetDiligence ® Cyber Risk & Privacy Liability Forum October 8-9, 2014

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Presented at NetDiligence Cyber Risk & Privacy Liability Forum in Santa Monica, Calif., Oct. 8-9, 2014.

TRANSCRIPT

Page 1: Advanced Level Cyber Insurance Coverage

NetDiligence®

Cyber Risk & PrivacyLiability Forum October 8-9, 2014

Page 2: Advanced Level Cyber Insurance Coverage

AdvancedCyber Coverage

Page 3: Advanced Level Cyber Insurance Coverage

Speakers

Laurie Kamaiko

Partner

Edwards Wildman Palmer LLC

New York, NY

Ziad Kubursi

SeniorVice President

Philadelphia Insurance Companies

Wayne, PA

Matt Prevost

Vice President

ACE USA

Philadelphia, PA

Susan Shay

Senior Vice President

Swiss Reinsurance America Corporation

Windsor, CT

Florence Levy

Senior Vice President

JLT Specialty InsuranceServices, Inc

Denver, CO

Josh Ladeau, CISSP – Moderator

Page 4: Advanced Level Cyber Insurance Coverage

Coverage ‘Matters’• What’s Trending?• Current Coverage Enhancements & Future Direction

• Fortune 1000• Small & Midmarket

• Can the underwriting community keep pace?

Page 5: Advanced Level Cyber Insurance Coverage

Underwriting the Underwriters• Rapidly evolving exposures & and loss environment• Market Dynamics; pressure on premiums, retentions and limits• Aggregation Concerns

• Lines of Business & Industries; Geographical & Political• Fac You! Difficulties in obtaining facultative reinsurance…

Page 6: Advanced Level Cyber Insurance Coverage

Cyber Cover Challenges• Unintended and/or Unanticipated Coverage

• Statutory, Regulatory, Case Law Expansions• Old Language applied to New Exposures

• Application of Traditional Coverage Provisions• Exclusions, Subrogation, Other Insurance; Standard Exclusions

Page 7: Advanced Level Cyber Insurance Coverage

Questions?

Thank You!!