Following the trend of recent years, 2018 is predicted to bring more cyber-attacks than ever. Brace yourself for imaginative variations of established scams, new forms of online theft, threats against physical infrastructure and increased foreign infiltration of U.S. systems.
Although the year is young, Yahoo (or its successor) already has paid an $80 million settlement to resolve securities class action litigation after numerous questions were raised concerning corporate handling of its well-publicized cyber-attack. Aside from this settlement, Yahoo will be required to pay $35 million in SEC fines. Don’t let the next company in the news be yours.
The good news is that insurance companies remain eager to sell protection against cyber losses and favorable terms can be obtained. All you need is to understand the risks, along with what coverage terms to look for and to avoid. But that’s not so easy in this evolving market that lacks uniformity and time-tested standard forms.
After an overview of the attack vectors, this session will provide participants with the tools they need to evaluate their insurance protection. Presenters will deliver tips for avoiding coverage traps and gaps, understanding policy terms that have led to litigation, and increasing the chances that your claims will be paid.