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Cyber Risk Insurance Policies: Is Your Company Covered?

Gain a better understanding of the threat landscape, including emerging trends in cyber attacks.

This course will provide practical information and advice regarding obtaining and preserving insurance coverage for a cyber/data breach, including a ransomware incident. The material will provide an overview of the threat landscape, including emerging trends in cyber attacks. Our presenters will address the core terms of coverage under and limitations of a typical cyber policy, as well as other types of policies that may provide coverage for a cyber-related loss, including advice for negotiating optimal coverage. They will discuss coverage for secondary risks that frequently result from a cyber/data breach and review how risk managers, in-house lawyers, IT and audit professionals, and security officers can preserve coverage in the event of a breach and protect the company's bottom line. To help illustrate these points, they will draw upon and share multiple real-world examples from their legal practice.

65 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

The Current Cyber/Data Breach/Privacy Threat Landscape

  • Common Threats Historically
  • New Trends
    • Ransomware
    • Working From Home
    • Vendor Risks
    • Combinations of Several Threats

Risks Covered by Common Cyber Liability Policies

  • Core Coverage Grants
  • Common Exclusions
    • Highlight War Exclusion
  • Highlight on Coverage for Ransomware Attacks and Common Coverage Issues
    • Potential Restrictions on Coverage for Ransom Payments
    • Business Interruption Ramifications

Other Types of Policies That May Respond to Cyber Risks

  • First-Party Property
  • Kidnap and Ransom
  • Commercial General Liability

Insurance for Secondary Risks Resulting From a Cyber Attack

  • Secondary Risks
    • Consumer Class Action Suits/Regulatory Investigations
    • Shareholder/EventDriven Derivative Actions
  • Other Policies to Consider
    • Directors and Officers
    • Professional Liability/Errors and Omissions

Risk Management Best Practices Regarding Cyber/Data Breach

  • Holistic Review: Understand All Insurance Program Policies
    • Which Policies Could Potentially Respond to a Loss
    • Policies' Notice Requirements
    • Other Insurance Issues
  • Risk Management Should Be Part of the Incident Response Plan, and Legal/IT/Security Should Have at Least a Basic Familiarity With What Coverage the Company Maintains and How It May Be Triggered
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on May 11, 2022.

Call 1-866-352-9540 for further credit information.

  • AK CLE 1.0
     
  • Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.1
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
     
  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • GA CLE 1.0
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • IN CLE 1.1
     
  • This program has been approved by the Indiana Commission on Continuing Legal Education. Participating attorneys are eligible to receive up to 1.1 hours of Distance Education credit.
     
  • MO CLE 1.3
     
  • This course qualifies for self-study CLE credit in Missouri.
     
  • MS CLE 1.1
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.1 credit hours.
     
  • NC CLE 1.0
     
  • This program has been approved by the North Carolina State Bar Board of Continuing Legal Education for 1.0 CLE hours.
     
  • ND CLE 1.0
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
     
  • NH MCLE 1.1
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 65 Minutes.
     
  • NJ CLE 1.3
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
     
  • NM CLE 1.0
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
     
  • NV CLE 1.0
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
     
  • OH CLE 1.0
     
  • This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 1.0 CLE credit hours. Please note: No more than twelve (12) hours of self-study CLE credit for any biennial reporting period may be earned by an Attorney or Judge under Regulation 409.2. To fulfill CLE requirements for self-study, web-based programs, you must complete 100% of the polling questions during the program. Your hours will be filed electronically within thirty (30) business days by Lorman Education Services provided you fulfilled 100% attendance and polling questions answered.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • TN CLE 1.08
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.08 hours of credit.
     
  • VA CLE 1.0
     
  • This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 1.0 CLE credit hours.
     
  • VT CLE 1.0
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WA CLE 1.0
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
     
  • WI CLE 1.0
     
  • This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.3
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

Virginia MCLE requirements do not allow approval for programs that do not include an audio or audiovisual component.

This program was previously offered as a live webinar. Virginia MCLE requirements do not allow approval for attendance at duplicate programs.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • AK CLE 1.0
     
  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • CT CLE 1.0
     
  • HI CLE 1.0
     
  • MO CLE 1.3
     
  • NJ CLE 1.3
     
  • NM CLE 1.0
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.3
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

J. Andrew Moss

J. Andrew Moss

Reed Smith LLP

  • Partner at the law firm Reed Smith LLP, based in its Chicago office
  • A member of Reed Smith’s Insurance Recovery Group in the firm’s Litigation Department
  • Concentrates practice on the representation of companies across all industries and their management as policyholders in insurance disputes involving directors’ and officers’ liability (D&O), cyber liability, professional and errors and omissions liability (E&O), fiduciary liability (FLI), employment practices liability (EPL), commercial crime, and commercial general liability (CGL) insurance
  • Counsels companies and management in the procurement, negotiation, evaluation, placement, and renewal of D&O, E&O, cyber liability, FLI, EPL, insurance, and sound risk-management practices
  • Author or co-author of more than 50 articles on insurance recovery issues
  • Speaker and panelist at more than 30 nationwide engagements
  • Assisted clients in recovering more than $100,000,000 in insurance limits for losses and claims arising from ransomware and other cyber attacks
Noel C. Paul

Noel C. Paul

Reed Smith LLP

  • Partner in Reed Smith’s Insurance Recovery Group based in the firm’s Chicago office
  • Advises companies on insurance and risk management issues and is experienced in representing clients in complex commercial and insurance coverage litigation in state and federal courts across the United States
  • Focuses his practice on recovering insurance for policyholders under commercial general liability, professional liability, property, directors’ and officers’ liability, and cyber/tech/media liability policies, among other types of coverage
  • Representations range from large publicly-traded corporations to mid-market private companies covering a diverse range of industries
  • Named among Best Lawyers for Insurance Law for 2020 and 2021 and an Emerging Lawyer by Leading Lawyers in the categories of Directors & Officers Liability Law and Insurance, Insurance Coverage & Reinsurance Law
  • Named Illinois Super Lawyers Rising Star 9 years in a row
  • 2021 winner of The American Lawyer’s Litigation Department of the Year: Insurance
  • Author or co-author of numerous articles on insurance recovery issues
  • Speaker and panelist at numerous engagements
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

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Product ID: 409736
Published 2022
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