Many agents and brokers may not know about regulatory issues as they relate to cyber insurance. For example, can coverage be purchased for the violation of cyber related laws and regulations? The answer is a surprising YES. Elements like the Health Insurance Portability and Accountability Act (HIPPA) or Payment Card Industry may require specific endorsements, insuring agreements, and defense against regulatory actions as well as their resulting fines and penalties. How can agents/brokers recognize and leverage available solutions in their clients’ cyber insurance programs?
In Managing Cyber Exposure: 2020 and Beyond – Part 4, Host and Director of Faculty Development, Jay Williams, CIC, CRM, CRIS, MLIS, AIP, AAI, ACSR; interviews Paul Burkett, J.D., CIC, CRM, CPCU, ARM, ALCM, discuss common exclusions and coverage provisions, available markets, and solutions currently available to agents. Many businesses conducting e-commerce are concerned about business income exposure and crime. Although what’s covered by cyber insurance is very broad, we know that cyber insurance doesn’t cover everything.
Tune in the parts 1-3 to learn more about what agents need to know.