Description
Maximize your companys insurance coverage in the event of a data breach or network intrusion.
Businesses in all industries are vulnerable to data breaches, network intrusions, data privacy claims, and cyber theft or extortion. A privacy event involving a companys loss, theft, or inadvertent disclosure of data, whether from employees, users, or customers, implicates a complex web of state and federal laws and regulatory frameworks. On top of this, the oftenrequired public disclosure of a companys loss, theft, or inadvertent disclosure of data is likely to invite demands, litigation, or a government investigation. In other words, data breaches and network intrusions can become expensive problems for a business. This presentation provides business leaders, inhouse counsel, risk managers, and privacy professionals with the tools to understand how to maximize your companys insurance coverage in the event of a data breach or network intrusion. We will first focus on the types of claims likely to arise out of a data breach or network instruction and the aftermath, followed by a discussion on the core types of insurance coverage that are likely to respond to a data breach, network instruction, and any claims, lawsuits, or investigation that follow. The program will close by providing best practices on how to prepare and report claims and proofs of loss to your companys insurer(s) and by briefly discussing ways to leverage commercial agreements to provide additional avenues to obtain insurance coverage in the event of a data breach or network intrusion. This information will help you better prepare your company to anticipate and respond to a data breach or network intrusion.
Date: 2023-02-23 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to identify the most common legal risks connected to a data breach.
* You will be able to describe the insurance coverage forms that will most likely be implicated by a data breach and any demands, lawsuits, or investigations that follow.
* You will be able to discuss strategic ways for your business to improve its data breach preparation by understanding the potentially applicable insurance in your program and from your commercial partners.
* You will be able to review data breach response protocols, commercial agreements, and insurance policies with an understanding of the potential claims that may follow from a data breach.