WEBINAR - 4 cyber loss scenarios you should use to test and demonstrate the coverage provided under your customers’ cyber insurance policies
WEBINAR - 4 cyber loss scenarios you should use to test and demonstrate the coverage provided under your customers’ cyber insurance policies
| The disappointment of customers and the many policy disputes on business interruption coverage following the pandemic have illustrated that many insureds and some of their brokers did not understand the limitations of property damage/business interruption coverage.
Cyber insurance policies are newer, less tested and arguably trickier to understand than property damage/business interruption policies so brokers and insurers must be able to clearly explain to customers the coverage and any limitations to the coverage to prevent similar policy disputes.
The best way of doing this is to scenario test the policy wording with potential cyber scenarios so we can understand how the policies may respond. |
Learning objectives - by the end of this webinar delegates will be able to:
- Identify four common cyber loss scenarios which may or may not be covered under a cyber policy
- Identify which customers are likely to be most concerned with what scenario
- Explain how a cyber insurance policy may or may not apply to each scenario
- Prepare an action plan on how to use the scenarios to both demonstrate the value and potential limitations of cyber insurance
It is relevant to general insurance brokers/intermediaries, insurers, and any other market participants.
Speaker bio
Neil Park MA MBA FCII
“Neil is a deep well of experience and knowledge on insurance subjects that has been instrumental in driving Broker IQ’s appeal. He has a gift for making the complex simple and presents a highly engaging way that invites audience participation. “
Chas Begley –Broker iQ
Neil spent twenty years working as an international insurance broker serving large multinational customers in London and North America for both Willis and Aon before setting up his own training consultancy business.
In North America he specialised in professional indemnity insurance and in the UK arranged a range of insurances for large UK multinationals including Commercial Property & Business interruption, Employers Liability, Public/Products Liability, Crime and Directors & Officers Liability.
The majority of his training is, delivered in the insurance market in the U.K. primarily in London but also internationally on behalf of the Chartered Insurance Institute and other local institutes.
He helps new entrants to the insurance market understand its products and services, trains brokers on how to provide the best advice to their customers as well as helping people in the industry succeed in their CII examinations.
He was study leader of the Insurance Institute of London cyber insurance research study group who published their findings in 2022.
He delivers in person training and participatory virtual workshops as well as webinars for several firms including the Institute of Risk Management.
He has also co delivered the London Makes It Possible selling with storytelling workshops and helped create the London Makes It Possible elearning on the London market in 2019.
http://www.neilpark.co.uk/how-i-can-help
CII Accredited
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.