Cyber Liability - Risk Protection
Cyber Liability Insurance has and will be a continuously evolving segment in commercial insurance. Through loss modeling and analyzing current case studies, fundamentally understanding the differences between the basic CGL coverage and the exposure of cyber liability is essential to our risk management process. |
Creative Solutions
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Keys To Success
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Cost Risk Planners assists companies in capitalizing on the current coverage's available to ensure the proper protection from loss. Developing creative solutions for all scales of businesses is the key to this success.
Some of the current focuses involving the use and understanding of Cyber Liability are in the following areas: Intellectual Property Protection Contingent Business Interruption First & Third Party Data Breach Cloud Computing Vendor Coverage Contractual Risk Transfer Cyrpto-Locking Protection |
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As the awareness of the risk involved with Cyber Liability increases, for companies in the field of health care and retail, a large focus is placed on security and data breach. However, with the expanding market place depending more heavily on technology a greater amount of companies are susceptible to this exposure either directly or indirectly through third parties, suppliers, etc. The keys to success is understanding what drives the risk for each business and managing the risk accordingly.
Recent Cases - Interests Involving Insurance Carriers & Cyber Liability http://www.insurancejournal.com/news/national/2016/04/12/404881.htm http://www.propertycasualty360.com/2018/01/31/its-not-just-cybercriminals-insider-threats-still?eNL=5a711c41140ba0091433e221&utm_source=PC360_ClaimsConnection&utm_medium=EMC-Email_editorial&t=education-training&utm_campaign=01312018 http://www.propertycasualty360.com/2018/01/29/cybersecurity-threats-in-the-insurance-industry?eNL=5a77a126160ba0c94d9cb1e7&utm_source=PC360_SpecialtyMarketsInsight&utm_medium=EMC-Email_editorial&utm_campaign=02052018 |
Although coverage, forms and limits vary in the insurance carriers that are actively insuring, coverage can be tailored to each companies specific needs.
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