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. Support this podcast: https://podcasters.spotify.com/pod/show/david-finz/support
131 Episodes
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ROCKY MOUNTAIN AI: Colorado recently became the first state in the nation to enact a comprehensive law regulating the use of artificial intelligence. In this episode, david discusses the scope of the new statute and the types of insurance coverage that businesses will need to respond to claims arising from the use of AI.
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"IT'S LIKE THE 1980's OR 1990's." The recent cyber attack on a major U.S. healthcare system has disrupted patient care and forced many of its business partners to disconnect from its network. In this episode, David highlights the type of insurance coverage available to impacted organizations and discusses the importance of tabletop exercises in helping businesses prepare for the worst.
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WHEN IN DOUBT, REPORT! In this episode, David discusses the importance of giving timely notice of even the most seemingly minor incidents under a cyberinsurance policy.
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CAN'T MAKE IT TO RIMS? In this episode, David offers a sneak peak into his panel's presentation on the use of AI as part of an overall cybersecurity risk management strategy.
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DEATH BY A THOUSAND CUTS. A newly released report from a leading managing general agent highlights the persistence of cybercrime as a method of attack. In this episode, David discusses what's behind the surge as well as how companies can safeguard themselves from these less severe but highly prevalent types of claims.
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HATERS GONNA HATE, FITCH IS GONNA RATE! An upcoming report from Fitch ratings highlights the continued profitability of the market for cyber insurance, refuting the naysayers who have doubted the sustainability of the product. In this episode, David explains how businesses can take advantage of these favorable market conditions to obtain better pricing and coverage terms.
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LIGHTNING STRIKES TWICE! News reports indicate a second ransomware attack has been perpetrated against Change Health Care. In this episode, David discusses pre and post incident services that can help a company prepare for, and learn from, a Cyber attack.
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SPECIAL EDITION: WHAT DO SAUSAGE AND LEGISLATION HAVE IN COMMON? A discussion draft of new Federal data privacy legislation has bipartisan support. In this episode, David breaks down what's in the bill, how it would work with existing laws, and what it could mean for your company's data security practices.
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DON'T LET THIS BE THE ACHILLES' HEEL OF YOUR RISK MANAGEMENT PROGRAM. A contract provision that often gets overlooked between IT service providers and their customers can have huge implications for their insurance. In this episode, David discusses a recent case, focusing on what the court didn't say and why marrying your contract wording to your insurance coverage is so important.
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NOT READY FOR PRIME TIME? Whether your company is considering filing for an IPO or just concerned about compliance with industry standards around cybersecurity, managing cyber risk has become a boardroom issue. In this episode, David discusses ways to effectively and affordably build cyber resilience into your risk management framework while keeping plaintiffs and regulators at bay.
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A DOUBLE EDGED SWORD. The use of information technology in supply chain risk management has enabled manufacturers to track inventory more efficiently, but has also opened up new vectors of attack for threat actors. In this episode, David discusses some common sense tools that businesses can use to defend against cyber attacks to their supply chain, and explains how cyber insurance can help companies recoup their losses when disruptions occur.
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OLD TACTICS, NEW TARGETS: A recent report from a nonprofit dedicated to promoting cyber resilience among financial institutions indicates that the sector is witnessing a spike in DDoS attacks. In this episode, David discusses what's behind the surge and what financial services companies can do to protect themselves from business interruption and reputational harm.
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NO EASY ANSWERS. As the healthcare sector still reels from the latest ransomware event, the debate rages over the morality and utility of making payment to the threat actors to end a cyber attack. In this episode, David weighs the pros and cons while offering suggestions to help businesses become more resilient.
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TURN AND FACE THE STRANGE CHANGES! The technology unit of a leading health insurer is grappling with the effects of a massive cyber attack that has caused disruptions for pharmacies across the US. In this episode, David discusses the importance of third party risk management and building cyber resilience into the operations of healthcare organizations.
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IT'S SHIELDS UP FOR CALIFORNIA BUSINESS! An appellate court recently struck down a lower court's stay of enforcement of the California Privacy Rights Act, putting thousands of companies at a heightened risk of a regulatory action. In this episode, David examines the courts decision and discusses what businesses should be doing to ensure compliance with the Act.
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SPECIAL EDITION: LOCKED DOWN! An international law enforcement effort has successfully disrupted the infamous LockBit ransomware syndicate. In this episode, David breaks down why this is significant and how businesses should be protecting themselves from ransomware attacks.
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"DON'T CALL IT A COMEBACK!". Ransomware is back on the rise, according to a recent report by the blockchain analytics firm, Chainalysis. In this episode, David breaks down the factors driving the resurgence, and what businesses should be doing to become more resilient in the face of this latest wave of attacks.
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Support this podcast: https://podcasters.spotify.com/pod/show/david-finz/support
A RAY OF SUNSHINE FROM THE SUNSHINE STATE! A bill pending in the Florida legislature would offer a safe harbor to businesses facing data breach litigation if they comply with generally accepted cybersecurity standards. In this episode, David discusses the merits of this bill, and what companies should be doing to enhance their cyber maturity in the meantime.
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WHEN ALL YOU HAVE IS A HAMMER, EVERYTHING LOOKS LIKE A NAIL! The Federal Trade Commission didn't waste any time using the FTC Act to target companies it claims may be gaining an unfair, competitive advantage in the marketplace around the development of AI. In this episode, David discusses one of the remedies regulators may seek and how this may impact the utilization of AI by your company
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LUCKY NUMBER 13! New Jersey recently became the 13th state to enact a comprehensive data protection law, going beyond breach notification to encompass standards for the collection, sharing, and disposal of personal information. In this episode, David provides an overview of the new law, and discusses what businesses should be doing to prepare and ensure compliance.
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Support this podcast: https://podcasters.spotify.com/pod/show/david-finz/support
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