P752 - WORKSHOP
ON CYBER INSURANCE AND D&O (NON-LIFE)
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
Ø
Cyber risk -
International
& Indian Perspectives
Ø
Cyber
Security and Cyber Laws
Ø
Cyber risk
and its impact on organizations , Insurance coverages and extensions
Ø
D & O
policy – what is covered
Ø
D & O
policy , exclusions and add ons available in Indian and global market
Contents
Ø
Cyber
insurance market - Global and Indian perspective
Ø
Dynamics of
Cyber Risks
Ø
Different
Types of Cyber Risks / Threats
Ø
Cyber Crime
and Laws including GDPR & PDPA
Ø
Cyber
Insurance (Commercial Lines) - policy coverage, exclusions & conditions
Ø
Cyber
Insurance (Personal Lines) - policy coverage, exclusions & conditions
Ø
D & O
policy coverages / extensions/ exclusions
Ø
Global
Market and its requirement
Ø
Underwriting
Cyber Insurance & D & O
policies
Ø
Claims
Management under both the policies
Officials handling Miscellaneous Insurance portfolio including
Liability in Head Office, Regional Offices, Operating Offices of Indian
and foreign public & private sector General Insurance Companies