Massive cyberattacks like the recent ransomware software program “Wanna Cry,” which paralyzed businesses across the globe, continue to dominate the headlines. As blockchain technology, the Internet of Things (IoT), mobile technologies, cloud software, and big-data analytics become more prevalent in the business world, cyber-related risks are an increasing concern for companies. To combat these risks, cyber insurance has become a critical component of any enterprise’s risk management program. Cyber insurance coverages are designed to protect businesses against cyber risks and to help them recover from cyber-attacks quickly and cost-effectively.
In “Shoring Up Cybersecurity and Cyberinsurance Now So You Don’t “Wanna Cry” Later,” the panel addresses cyber-related liabilities and exposures and how companies can best use their insurance coverage to protect themselves against cyberrelated losses and resume operations. This panel covers: the evolving cybersecurity landscape and its impact on cyber-related liabilities and exposures; cyber insurance designed to protect businesses against cyber risks; how companies can best use their insurance coverage to protect themselves against cyber-related losses and resume operations; common gaps in cyber insurance coverage; and recent case law interpreting coverage for cyber losses and liabilities.