Description

Virtually no organizations are immune to the risks associated with the Internet and electronic commerce. Nearly all businesses—regardless of industry or size—now, at a minimum, have access to the Internet, operate an internal e-mail system, and maintain their own websites. In addition, a vast amount of businesses also solicit and process orders for their products using “e-commerce.” Moreover, such firms are also engaging in social media and cloud computing. In combination, these diverse types of cyber-space activities give rise to a variety of liability and property loss exposures, along with the need for insurance policies that cover these exposures. This course discusses the various sources of such exposures and how coverage can be provided using the various types of cyber and privacy insurance coverage.

Upon completion of this course, you should be able to:

1. Recognize 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.
2. Identify 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.
3. Recognize 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.
4. Recognize the effect of the key first-party property and third-party liability insuring agreements found within the policies.
5. Identify the most important exclusions found within cyber and privacy forms, recognize how different insurers’ versions of these same exclusions vary, and recognize how such differences impact the scope of coverage the policies provide.

Course #220439 | 7 P&C | Instructor: Bill Bolling