Understanding Cyber Risk and Leveraging Insurance to Mitigate Losses

Suffering a cyber event can be hugely disruptive to your client's business and cause significant financial loss. Insurance plays an increasingly important role in mitigating the risks associated with malware attacks, data breaches, and the third-party liability that can result. At the same time, many businesses and corporate leaders have not actually experienced these events first-hand. Do they know what to expect when they are hit with a malware attack and how best to position their business to weather the storm? Insurance policies vary greatly regarding the scope of coverage and policy limits. Corporate policyholders are often surprised to learn what is - and is not - covered.

This panel - Arthur Armstrong, Carolyn Purwin Ryan, and Margaux Weinraub - will guide you through the "life" of a cyber event, from cybersecurity planning, to what to do on day one of a breach, to how to secure payment from your insurer for the resulting losses.

Learning Objectives:

1. Review important considerations in procuring the right cyber insurance
2. Examine best practices for minimizing the risk and impact of a cyber event
3. Identify the potential business losses and regulatory issues that can result from a cyber event
4. Navigate the remediation process to return to business as usual
5. Discuss how to leverage your insurance policies to maximize recovery.