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...ency E&O exposures are trusts, cyber risk, Non-Ownership Auto exposures (P...e insurer. DIRECTORS & OFFICERS LIABILITY Nonprofit and for-profit corpora...

... PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All cyber liability Articles tagged with cyber liability Back Agency E&O Exposures To Broker Of Record Letters This content has not been rated yet. CompleteMarkets Editor , Curtis Pearsall 3/19/2014 12:00:00 AM When you take over an account by broker of record, it's important to realize your work isn't done; .. All Articles by CompleteMarkets Editor Comments (0 ) x No Thanks ... . Loading.. x No Thanks Loading.. ...

... risk assessment, mitigation-protection, and recovery. Agents can — and should — participate in the TRM process with their clients, starting with risk assessment. If you don't have knowledge and expertise in any aspect of CyberSecurity TRM, get professional assistance. For example, cyber-risk assessment must include network vulnerability and intrusion detection technology applied by specialists. Some insurers, and a number of network security companies, perform cyber risk assessment. Once the assessment is complete and all exposures have been identified, the next phase is to implement mitigation protection' measures that reduce or eliminate the risk. Mitigation protection combines technology with policy and process measures that address internal people issues more than hardware issues. This is because insiders execute most security breaches. The last phase involves recovery or remediation if an exposure can't be mitigated and ... client suffers a loss. Insurance programs that address CyberSecurity provide a wide range of coverages but don't cover every conceivable cyber risk. So it's wise to carefully consider all options in choosing an insurer and its cyber-risk policies. Coverages can range from Web Content Liability only, to include Professional Errors & Omissions, Network Security Liability, Cyber Extortion, Network Intangible Information Loss, Network Business Interruption, and funds for cyber-criminals and crisis communication. The federal government expects private and public enterprises to increase protective measures against a rising tide of cyber attacks over the next several years. As an insurance professional, you're in a position to assist your Commercial Lines clients and prospects in this defense. Agents who learn more about CyberSecurity and establish relationships with network security firms that offer cyber-risk assessment and mitigation services will profit from ...

Cybersecurity: Opportunities For Agents
CYBERSECURITY: OPPORTUNITIES FOR AGENTS by...ith network security firms that offer cyber-risk assessment and mitigation ser...

... its Commercial General Liability (CGL) insurer. However, most curren... In a third-party, or 'vicarious liability,' claim, it's very like...

...e life has moved to the Internet. Cybersecurity problems have become increasi...on, or even face legal issues. These cyber threats are getting smarter. So it...

... roles during unforeseen events. Cybersecurity Measures We live in an era do..., addressing the escalating threat of cyberattacks, and building a multi-skil...

... a broker of record. Primarily, how confident are you the current policies reflect the current exposures? Is your agency/producer familiar with this type of account and the exposures this type of risk faces? In addition, based on the quality of the job the prior agent did, there might be coverages available that haven't been discussed with your new customer but need to be for exposures such as cyber liability or employment practices liability. The bottom line: Duplicating the prior agent's mistakes does NOT isolate your agency from the possibility of an E&O claim if a customer has a claim that their policies didn't cover completely. Falling into the "renew as is" trap is one of the worst things you can do. It's best to treat this new customer, personal or commercial, as ... they were a brand new prospect. Prove your value by conducting a comprehensive review of the file. This includes analyzing their current program, identifying their exposures, and providing them with coverage options. Exposure Analysis Checklists are a great tool to assist you in this regard. Be sure to bring to your customer's attention the differences between their current coverage and the options you're proposing and to document all discussions. An additional question that's essential to resolve is exactly when does your agency technically become the official agent of record. Is the account switching over all of its business or just some of it? Does this take effect at the next renewal or mid-term? What are the wishes of the parties? What is the position of your carriers? Resolve these matters with your insured and carriers to ensure proper ...

...t need to be for exposures such as cyber liability or employment practices liability. The bottom line: Duplicating the p...