Claim OwnershipThe Cyber Insurance Imperative
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© David Finz
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This podcast surveys the Cyber threat environment confronting small and mid-sized businesses, explain how Cyber insurance responds to losses resulting from a Cyber event, and define the role of the insurance broker in the risk assessment, underwriting, and claims processes.
Named #1 podcast for Cyber Insurance by Million Podcasts!
https://www.millionpodcasts.com/cyber-insurance-podcasts/
Named #1 podcast for Cyber Insurance by Million Podcasts!
https://www.millionpodcasts.com/cyber-insurance-podcasts/
201 Episodes
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"A GRAND EXPERIMENT INVOLVING MILLIONS OF AMERICANS." A recent Congressional hearing on the proliferation of AI chatbots in mental health raises concerns about user safety and data privacy. In this episode, David highlights the testimony of expert witnesses and discusses what healthcare organizations and other businesses can do right now to implement best practices around the responsible use of Artificial Intelligence while legislation catches up with advances in the technology.
DO YOU KNOW WHAT INFORMATION YOUR WEBSITE IS COLLECTING? In this episode, David sits down with university researcher and Cyber Insurance underwriter Daniel Woods to discuss the rise of tracking litigation -- who's driving it, what businesses can do to protect themselves, and how the insurance marketplace is responding.
GOING SOFT! In this episode, David breaks down the findings in the recent report on the state of the Cyber Insurance market from the National Association of Insurance Commissioners, and what the historically soft market means for businesses looking to expand the scope of their coverage.
COVERAGE MATTERS! In this episode, David sits down with Peter Halprin, Esq., of Haynes & Boone's Insurance Recovery Practice to discuss where disputes most commonly arise in the adjustment of Cyber claims.
ELEPHANTS NEVER FORGET, AND NEITHER DOES THE DARK WEB! A recent Federal appeals court ruling clarifies the basis by which plaintiffs in data breach litigation can establish standing to sue. In this episode, David breaks down the court's rationale for determining whether plaintiffs can establish actual harm, and explains why it's important to have the right defense arrangements in your cyber insurance policy to meet the needs of your organization.
OUTTA SIGHT! The FAA and the Transportation Security Administration have just concluded a 60-day public comment period around a proposed rule for the use of drones Beyond Visual Line of Sight of the user. In this episode, David breaks down some of the aviation industry's concerns over the new regulations, and discusses the how the right insurance coverage can address the cybersecurity and data privacy exposures associated with this new technology.
WALKING ON EGGSHELLS: A children's psychiatric facility in Connecticut is facing a potential class action lawsuit alleging that it left patient and employee data vulnerable to a cyberattack and that it delayed notification to plaintiffs and regulators about the breach. In this episode, David discusses an important doctrine in tort law that could help establish the plaintiffs establish standing to sue and magnify their damages. He also outlines steps that healthcare facilities can take to enhance their cybersecurity controls and comply with HIPAA and other data privacy laws.
DON'T WAIT UNTIL IT'S TOO LATE! The news coming out of Great Britain this week that a luxury automaker had failed to procure cyber insurance prior to sustaining a debilitating cyber attack should serve as a cautionary tale for businesses. In this episode, David outlines the benefits of the typical cyber policy and urges companies still operating without the coverage to reach out for assistance.
FRENCH FRIED! The E.U.-U.S. Data Privacy Framework has survived its first legal challenge brought by a French parliamentarian who claimed that the current arrangement fails to provide adequate safeguards for European citizens. In this episode, David explains why the current arrangement remains in limbo and how companies can ensure compliance with GDPR during this reprieve. He also discusses the importance of the right policy wording to cover claims against U.S. companies arising under this law.
TAKE ME OUT TO THE BALLGAME! A Major League Baseball team has been hit with a biometric information privacy suit, which also names a private security firm as well as their private equity backers as defendants. In this episode, David discusses the practices that landed the ballclub in hot water, as well as the challenges associated with obtaining coverage for BIPA and other wrongful collection claims in today's marketplace.
BACK TO SCHOOL! As reported by Fox News and other media outlets, a prestigious Ivy League institution has been grappling with the after effects of a data breach impacting hundreds of thousands of students, alumni, applicants, and employees. In this episode, David discusses why higher education is a prime target for hackers, and how colleges and universities can improve their cybersecurity as well as their insurability.
THE SIX MILLION DOLLAR LAWYERS! In this episode, David discusses the recent settlement in the TMX Finance data breach lawsuit, the hazards of litigation facing both plaintiffs and defendants in such cases, and how the right policy wording can make a difference in the availability of insurance coverage to defend and settle such claims.
MOVEIT LITIGATION MOVES FORWARD. In this episode, David discusses a recent ruling slimming down the massive lawsuit against an embattled software developer whose file transfer tool was the target of a 2023 cyberattack. David also breaks down the issues surrounding insurance coverage for the defense of such matters.
UNDERWRITER: HEAL THYSELF. A recent spate of high-profile cybersecurity incidents at insurance companies can leave consumers and businesses wondering how secure their data really is. In this episode, David discusses how Alliant works with its own Financial Institution clients to improve their insurability and cyber maturity.
DIRTY LAUNDRY! A leading bleach maker has sued its cybersecurity vendor following a crippling 2023 cyberattack. In this episode, David discusses what it would take for the plaintiff to pierce through any limitations of liability in the parties' contract, as well as the importance of cyber insurance as a backstop when the best vendor management practices fail.
THIRD PARTY CYBER ATTACKS ARE ON THE RISE! This year's Verizon Data Breach Investigations Report revealed that attacks on service providers doubled as a percentage of reported data breaches. In this episode, David revisits the importance of vendor management and offers some practical tips around contract wording, cybersecurity attestations, and risk transfer solutions.
EL-MORTIFIED! In this episode, David takes a break from discussing Cyber Insurance to speak out against the vile, hateful rhetoric spewed by the hacker who took over Elmo's X account.
GOING DOWN? A recently released report by A.M. Best indicates that Cyber insurance premium volume declined in 2024, but the decline was fuelled by improved pricing rather than a drop in demand for the coverage. In this episode, David discusses another factor in play -- stricter underwriting criteria, and the role of the broker in helping clients enhance their insurability.
FREEDOM AND PRIVACY CANNOT BE SEPARATED! In this special, Fourth of July episode, David cites examples of government collaboration with private companies around surveillance of online activity, and calls upon tech companies and social media platforms to "be the adults in the room" when it comes to data privacy. DISCLAIMER: The opinions expressed here are solely those of the creator and do not necessarily reflect the views of his employer.
LIFE DURING WARTIME! Against the backdrop of a tenuous ceasefire between Iran and Israel, the Department of Homeland Security has issued a bulletin warning businesses to be prepared for cyber attacks. In this episode, David discusses the DHS advisory and tackles the thorny question of the "war exclusion" commonly found on Cyber insurance policies.
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