Cyber Risks Insurance: Law and Practice
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Cyber Risks Insurance: Law and Practice is an important resource because of the increased awareness of cyber security and the necessity to identify sensitive assets. The essential topics of cyber insurance risks, legislation, and practise are clarified in this new title. It assumes a UK viewpoint with added comparative analysis of the most notable cases in the United States, and it is written in an approachable and practical way designed to help you discover answers fast. This is your ultimate reference to understanding cyber hazards and the insurance coverage you need to defend yourself, along with example clauses from top industry organisations such as the Lloyd's Market Association and the International Underwriting Association.
This new book offers in-depth guidance on cyber insurance risks, law, and practical application, with highlights including :
- Clear instructions on how to analyse cyber threats, conduct a cyber security assessment, and obtain the required insurance coverage to defend yourself.
- The Lloyd's Market Association, the International Underwriting Association, and other key industry organisations have released sample exclusion clauses.
- Includes a number of useful provisions on topics including cyber non-aggregation, information technology risks, terrorism, ransomware, and cyber-attacks. Examines the modelling of cyber hazards and the underwriting of cyber risks in depth.
- Examines the GDPR regime and new compliance procedural requirements, as well as the criterion for data breach reporting and fine insurability.
- Examines silent cyber exposure, coverage, and exclusions (e.g. CL380 and NMA2914/5) across all lines of insurance, including property, construction, marine, and liability.
- Examines cyber events, claims difficulties, and the growth of court battles in this area, including a comparison of recent US cases.
- Addresses first party coverage issues including those relevant to network security breaches.
- Discusses the extent of cyber crime coverage including the crimes of extortion and fraudulent transfer of funds, among others.
- Explains business interruption coverage and key issues such as gross profit and revenue, period of coverage, trends clauses, and extended reputation coverage.
- Commentary on third party liability coverage including privacy and media liability issues.
- Outlines the state of the standalone cyber insurance market along with the growing risks and future developments.
- Written from a UK perspective with additional analysis of the most relevant US cases as well as the legal positions in Australia and New Zealand.
TABLE OF CONTENTS of Cyber Risks Insurance
- Cyber Risks Assessment and Underwriting
- Silent Cyber Exposure and Tangible Property
- Silent Cyber Exclusions
- First Party Coverage in Standalone Cyber Policies
- First Party Coverage: Data Breach Notification, Regulatory Fines and the GDPR
- Cyber Business Interruption Coverage
- Third-Party Liability Cover
- Cyber Crime Coverage
- Cyber Risks Reinsurance, Modelling and Accumulation