The role of cyber insurance in security and risk management
Nicholas Reuhs - Ice Miller LLP
Sep 28, 2016Size: 440.9MB
Download: MP4 Video
Watch in your Browser Watch on YouTube
AbstractCyber-liability insurance has grown from a niche product into a multi-billion-dollar market in less than a decade. It has also become a negotiating point in technology-related contracts and a buzzword for corporate boards. In this seminar, we will discuss how this new insurance market has developed -- surveying the spectrum of “cyber” insurance products and outlining what events these products are (and are not) intended to cover. We will also discuss underwriting problems (information asymmetry, correlated losses, etc.) and how these underwriting problems are causing insurers to increasingly dictate security practices and behavior. Finally, we will discuss the future of cyber-liability insurance and how a major event could shift the market’s focus or even lead to government intervention.
About the SpeakerNick Reuhs is a partner in Ice Miller's Litigation Group, where he concentrates his practice on insurance coverage disputes, risk management and commercial litigation. Nick regularly advises clients in insurance coverage matters, managing claims and advocating policy construction that maximizes insurance recovery. Nick also provides policyholders with counseling on pre-loss issues, ranging from assessments of coverage for particular risks to help with securing favorable coverage terms under specialty insurance policies. As part of his risk management practice, Nick also assists client with data protection/privacy matters, including breach response, cost recovery and pre-event risk transfer through contracting.
The views, opinions and assumptions expressed in these videos are those of the presenter and do not necessarily reflect the official policy or position of CERIAS or Purdue University. All content included in these videos, are the property of Purdue University, the presenter and/or the presenter’s organization, and protected by U.S. and international copyright laws. The collection, arrangement and assembly of all content in these videos and on the hosting website exclusive property of Purdue University. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any other way exploit any part of copyrighted material without permission from CERIAS, Purdue University.