P752 - WORKSHOP ON CYBER INSURANCE AND D&O (NON-LIFE)

 Background

 

Cyber security is becoming a major cause of concern for organizations, government and individuals. The frequency of cyber-attack events along with increasing complexity and dependence on information and communication technology is making cyber risk management increasingly onerous.  From multinationals to SMEs to start-ups, all those with access to private and confidential information of third parties have the responsibility of keeping the information protected.  These entities are exposed to e-theft, failure of service, destruction of critical data etc.  Apart from financial and legal risk due to such cyber incidents, they may also face risk of losing their reputation. Further regulations stipulate stringent reporting requirements, notification procedures fulfilment, and penalties for security breach.

Similarly Directors and officers (D&O) liability insurance covers directors and officers or their company or organization if sued (most policies exclude fraud and criminal offenses). D&O insurance claims are paid to cover losses associated with the lawsuit, including legal defence fees. In the present scenario, D & O policy is the most sought after policy in view of the huge number of claims being reported after the pandemic.

Objectives 

 

The programme aims to equip participants with understanding & knowledge of

  Cyber risk - International & Indian Perspectives

  Cyber Security and Cyber Laws

  Cyber risk and its impact on organizations , Insurance coverages and extensions

  D & O policy what is covered

  D & O policy , exclusions and add ons available in Indian and global market

Contents

  Cyber insurance market - Global and Indian perspective

  Dynamics of Cyber Risks

  Different Types of Cyber Risks / Threats

  Cyber Crime and Laws including GDPR & PDPA

  Cyber Insurance (Commercial Lines) - policy coverage, exclusions & conditions

  Cyber Insurance (Personal Lines) - policy coverage, exclusions & conditions

  D & O policy coverages / extensions/ exclusions

  Global Market and its requirement

  Underwriting Cyber Insurance  & D & O policies

  Claims Management under both the policies

 Participants Profile

Officials handling Miscellaneous Insurance portfolio including Liability in Head Office, Regional Offices, Operating Offices of Indian and foreign public & private sector General Insurance Companies

 Duration:       2 Days

 Dates:             08.12.2022-09.12.2022