Understanding Cyber Liability Insurance

It's the fastest growing risk exposure for companies. With this webinar, retail brokers will learn out how to best communicate the importance of Cyber Liability to their clients. You will gain an understanding of what cyber is and how breaches occur. We also go over the anatomy of a claim and how to successfully sell to the client.

Timestamps:

00:00 Introduction
02:27 What is Cyber?
05:35 Laws Protecting Consumers & Businesses
10:59 Types of Exposures to Cyber Attacks
14:52 Anatomy of a Data Breach
40:34 How to Sell to Your Client

What is Cyber?

Cyber generally refers to Data Breach and related liabilities
Includes non-digital exposures (e.g. loss of paper records)
As there is no standard definition, it is important to read this term in context

What are the Exposures?

Social Engineering
Use of deception to obtain unauthorized access.
Phishing: Sending fake, but convincing emails to targets to obtain secure info
Baiting: Leaving malware infected devices around target area
Tailgating: Following authorized individuals into secure area

Virus/Malware
Computer code designed to compromise secured computers or networks
Designed to exploit vulnerabilities in code
Often used to target a wide number of networks
Can be designed to attack only a particular company or network

How to Sell to Your Client

Educate En Masse
Cross Sell Your Renewal Book
Timing Is Everything

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Check out our other previously recorded webinars, they are all uploaded here on our YouTube channel.

CID Insurance Programs is a Wholesale Brokerage specializing in commercial insurance products designed for the business clients of independent and captive insurance brokers. Our wholesale insurance products encompass a broad range of preferred risks to manageable hard-to-place risks. We have gained success and recognition in helping insurance brokers build their commercial book of business.