7340. Cyber Insurance

What are cyber risks? Are we headed to a day when all risks will be cyber risks? How can the risks of harm from a cyberattack be managed through insurance? This course provides a detailed examination of the legal considerations in effective use of insurance for cyber risk management, including a review of how commercial general liability, property, crime and cyber insurance policies may respond to cyber risks. The course will focus on several subtopics within these areas, such as the differences between first and third party exposures and how they are addressed in cyber insurance coverages, coverage for privacy risks, coverage for regulatory fines and penalties that may be assessed after a cyber breach, how ransomware is handled by insurers, vender relationships and coverage through other people’s insurance, coverage for state-sponsored cyberattacks, terrorism and cyber risk, and common cyber risk exclusions including the debate over the application of war and hostile act exclusions to cyberattacks. The course will also examine the varying perspectives of the interested parties to an insurance dispute.