Security and cyber risks inherent to large, interconnected systems are major challenges that the transportation sector faces. This session at the NetDiligence® Cyber Risk Summit explored the unique vulnerabilities that can make underwriting in this sector complicated. Speakers included: John Barrett, Member, Enterprise Risk Manager, Bennett Bricklin & Saltzburg LLC John Farley, Vice President & Cyber Risk Consulting Practice Leader, HUB International Leigh Tuccio, Underwriting Specialist, Allianz Stephen Bergman, General Manager IT and Security Transformation, RSA Security David Molitano, SVP, Affiliate Underwriting Manager, Berkley Cyber Risk Solutions When you think of cyber risk, you think of the financial hit to
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This session at the NetDiligence® Cyber Risk Summit examined the unique legal and practical issues when confronting a data breach and point-of-sale malware attacks that are becoming a common threat to the retail industry. Speakers included: Stuart Panensky, Partner, FisherBroyles LLP Ruston Miles, Chief Strategy Officer, Bluefin Payment Systems Carrie Parikh, Vice President Legal, Wyndham Hotel Group Andrea Arias, Attorney, FTC Anthony Dulce, Vice President North American Financial Lines Claims, Chubb A typical credit card transaction is a two-party system between consumer and merchant. The consumer has an issuing bank and the merchants have an acquiring bank – both of
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This panel at the NetDiligence® Cyber Risk Summit offered insights into how organizations can be thoughtful in their use of security resources to mitigate risk. Speakers included: Vinny Sakore, Chief Technology Officer, NetDiligence® Andy Sambandam, Founder & CEO, Clarip Inc. Christian Lees, Chief Information Security Officer, Chief Technology Officer, InfoArmor Daimon Geopfert, Principal, Risk Advisory Services, RSM Steve Timmerman, Vice President Business Development, RedSeal Threat Intelligence is the process of acquiring knowledge about threats to an environment via multiple sources. It is not solely a list of indicators that an attacker used to gain access. It contains additional context into
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This panel at the NetDiligence® Cyber Risk Summit provided insight on the practical concerns and decisions that Chief Information Security Officers (CISOs) have and make regarding their overall obligations to risk management. Speakers included: Tom Gallo, Vice President, AllClear ID Anahi Santiago, Chief Information Security Officer, Christiana Care Health Care System Mary Chaney, Attorney, The Law Offices of Mary N. Chaney, P.L.L.C. Todd Bearman, Vice President, Chief Information Security Officer, TE Information Systems What is important to do post breach? There is much at stake after a breach. In the aftermath, it is important to have the right communications to
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This session at the NetDiligence® Cyber Risk Summit provided a basic understanding of blockchain technology and its potential application to the insurance industry. Speakers included: Neeraj Sahni, Senior Vice President, Willis Towers Watson Cristina Dolan, Co-Founder & COO, iXledger Meghan Hannes, Vice President, Cyber Product Leader, AXIS Scott Diamond, Managing Partner, Chicago Digital Asset Network Stephen Palley, Partner, Anderson Kill Blockchain technology is a way to record transactions chronologically forming an immutable chain, providing an audit trail for digitized assets. There is no central point of failure, with data distributed in nodes (so many multiple points that it is impossible
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The collection and potential loss or misuse of biometric information can expose organizations to privacy liability. This session at the NetDiligence® Cyber Risk Summit provided an introduction to biometric information collection and issues related to privacy laws when using biometric data. Speakers included: Ernest Koschineg, Partner, Cipriani & Werner Chris Dore, Partner, Edelson Julia Jacobson, Partner, K&L Gates Matthew Webb, Chief Underwriting Officer, Hiscox Serge Jorgensen, Partner & Chief Technology Officer, Sylint An individual’s biometric data includes unique identifiers such as fingerprints or facial geometry. Since an individual’s biometric data is both unique and irreplaceable – unlike a social security
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This session at the 2018 NetDiligence® Cyber Risk Summit discussed the need for improving collaboration between the insurance industry and government and how that can lead to a common cyber good. Speakers included: Ronald Raether, Partner, Troutman Sanders Scott Kannry, Chief Executive Officer, Axio Global Wyatt Hoffman, Research Analyst, Carnegie Endowment for International Peace Fundamentally, government has a vested interest in having a robust insurance market for cyber to create best practices and stomach the losses. There are still boundaries to be broken down, however, related to the relationship between government and the insurance industry. There are different layers to
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Understanding how policies intersect around cyber coverage and claims can help guide proper placement. This panel discussion at the 2018 NetDiligence® Cyber Risk Summit provided opinions on where the gaps and overlaps in cyber policies lie so that coverage can be developed to match the business need. Speakers included: Meredith Schnur, Senior Vice President, USI Christina Terplan, Partner, Clyde & Co John Coletti, Chief Underwriting Officer, XL Catlin Nick Economidis, Underwriter, Crum & Forster Shannon Groeber, Senior Vice President Cyber/E&O Practice, JLT Specialty Is reputational harm measurable and covered in cyber policies? Sometimes. For instance, if you have a business
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Understanding current cyber claim trends can be extremely helpful in assessing the cyber risk of a potential policyholder. This session at the 2018 NetDiligence® Cyber Risk Summit explored results from the most recent NetDiligence® Cyber Claims Study and the Verizon Data Breach Incident Response Report. Speakers included: John Mullen, Partner, Mullen Coughlin Beth Diamond, Head of Third-Party Complex Claims, Beazley Brad Vatrt, Assistant Vice President, AIG Chris Novak, Global Director, Threat Research Advisory Center, Verizon John Spiehs, Assistant Vice President, AXIS Mark Greisiger, President & CEO, NetDiligence® The NetDiligence® Cyber Claims Study, which analyzed over 1,200 claims in 2018, uncovered
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The opening keynote session at the 2018 NetDiligence® Cyber Risk Summit highlighted the state of the cyber risk industry as we see it today. Speakers included: Josh Shapiro, Attorney General, Commonwealth of Pennsylvania Josh Ladeau, Senior Vice President, Head of U.S. Cyber, Aspen Insurance There has been some interesting commentary in the market regarding cyber being unchartered territory. It is the great unknown. And it is probably going to get worse before it gets better, so this industry will be challenged. That being said, the concept that “nobody knows what they are doing” is a misconception. This is new, but
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