With Cyber Risk related threats increasing at an alarming rate and becoming widespread thereby affecting all strata of Businesses, it is imperative that we in the General Insurance Industry be ready with bespoke solutions and coverages.
Since this particular line of business is very new and involves cutting edge technology issues, it is imperative that General Insurance Professionals be familiar not only with the Cyber Risks Policy coverages; terms & conditions (which is unique in that it covers both 3rd party & 1st Party Risks), but also understand the “language” commonly used in this space.
Data Protection Obligations demand that Companies handle sensitive customer or client data like Personally Identifiable Information (PII’s) and Trade Secrets with utmost confidentiality. Apart from the Legal & Restitution costs in the event of Data Breaches, Government Regulators & the Payment Card Industry (PCI)
This workshop will introduce participants to the various manners of Cyber attacks and examples of major Cyber Incidents affecting Data Networks in Singapore & Abroad. This will be followed by a detailed section-wise analysis of a ‘Standard’ Cyber Risks Policy including Cyber Liability; Data Breach Expenses; Business Interruption; & Hardware Losses.
Computer related Crime including Cyber Crime & Extortion has assumed epidemic proportions and affected every strata of Industry. This course will provide participants with the necessary inputs to deal with the various covers available under Computer Crime & Cyber Risk Policies.
With the ‘New Normal’ which has emerged in the post COVID-19 world, it becomes necessary to ascertain how our mainstream policies are geared to handle pandemic situations & how we should adapt where necessary, this workshop also intends to address these important issues in the context of Cyber Risks insurances.