Cyber Risks & Computer Crime Insurances (P181211HGQ)

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.

Real Life Case Studies will be used to reinforce the theoretical discussions had in the above modules such that participants are able to relate their learnings to actual live cases which they will handle upon return to their offices.

Start: Thursday, 12 September 2019

End: Friday, 13 September 2019

09:00 AM - 17:00 PM
Training Venue : To Be Advised

Early Bird before 01 March

S$ 1,391

After FTS 50% Grant

$ 741

After 90% FTS Grant for 40 years old & above

$ 221

Overseas Based

S$ 1,330

Normal Registration

S$ 1,605

The course fee is eligible for Skill Future Credit claims

Course Overview

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.

Real Life Case Studies will be used to reinforce the theoretical discussions had in the above modules such that participants are able to relate their learnings to actual live cases which they will handle upon return to their offices.

Training Agenda

  • How Computer Systems and Data can be breached – Causes & Effects (Viruses; Worms & Trojans; Phishing; Vishing; Denial Of Service attacks; etc)
  • vCyber Liability Basic Principles: Important definitions used in Cyber Risks policies; Personally Identifiable Information (PII’s) & Personal Health Information (PHI’s)
  • A ‘Typical’ Cyber Risks Insurance Policy – Structure: 1st & 3rd Party Sections
  • A ‘Typical’ Cyber Risks Insurance Policy – Sectional Analysis: Insuring Clauses, Exclusions, Write-backs and General & Claims Conditions
  • Computer Crime – Cyber Crime; Cyber Extortion; Employee Dishonesty / Fidelity Insurances
  • Selling Cyber Insurance Policies – Important things to know when discussing these policies with Prospects / Clients
  • A ‘Typical’ Cyber Risks Insurance Policy – Underwriting & Rating
  • Post Data Breach Obligations – Singapore Data Protection Regulations; PCI-DSS norms & penalties for data breaches; International Practices
  • Cyber Insurance Claims – Major Recent Cyber Incidents in Singapore & Abroad: Analysis & Discussion
  • Case Studies & Group Work

For Whom

  • Brokers; Underwriters; Claims Managers; Corporate Risk Managers & Reinsurers who wish to enhance their knowledge of Cyber Liability and associated risks; and the impact of such breaches in Computer Security and how these are taken care of suitably through Insurance

Facilitator

  • SUHIRD KAMRA
  • An experienced International Property & Casualty Underwriter with expertise in Liability and Financial Lines of Business.
  • Has in-depth understanding of both the Asian and North American Property & Casualty Markets and has headed a large Commercial Team with a major Insurance Company in Canada and handled large Property & Casualty accounts.
  • Headed the Underwriting for Larsen & Toubro General Insurance Company which forms part of the world’s leading Engineering & Construction House handling major projects in India and across Asia, Africa & Middle East.
  • 30 years of rich practical experience in the Financial Sector – Banking & Insurance.