New York, NY, November 04, 2016 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, announced today that it has scheduled a live webcast entitled: “The Evolution of Cyber Insurance Industry: Unraveling the Complexities Live Webcast.” This two-hour event is scheduled on Wednesday, November 9, 2016 @ 3:00 PM to 5:00 PM (ET).
As cyber breaches become more common and sophisticated, state and federal banking regulators are increasing their focus on cyber security and cyber insurance. In 2015, the Federal Financial Institutions Examination Council (FFIEC) has issued its Cybersecurity Assessment Tool to help financial institutions identify cyber risks and assess preparedness. The Texas Department of Banking also began requiring all banks to measure inherent cyber risks and cyber security maturity by December 31, 2015. In New York, the Department of Financial Services has also stepped up to push for strict cyber security requirements for banks under its jurisdiction.
As such, it is not enough that banks secure cyber insurance in place, but it is also imperative to ensure that the scope and limits of the coverage are appropriate. Although it is unclear what criteria regulators will use to evaluate cyber insurance, at least banks should be aware that traditional insurance might likely exclude coverage for cyber attacks and privacy breaches. They should also evaluate the variables that may impact the amount of cyber insurance they have. It is also important that banks work with their brokers, coverage attorneys and IT experts to analyze their cyber risks and determine the adequacy of the insurance coverage to be prepared in case of an assessment by the regulators.
In this two-hour live webcast, a panel of distinguished professionals and thought leaders assembled by The Knowledge Group will help bankers understand the importance of cyber insurance. They will offer guidance on how to procure the appropriate cyber insurance coverage and ensure compliance with state and federal regulations.
Key topics include:
· Evolution of Cyber Insurance Landscape
· Importance of Cyber Insurance for Banks
· What Is and Is Not Covered
· Evaluating Cyber Insurance Coverage
· Risks Insured
· Losses Covered
· State and Federal Regulations
John N. Ellison
Reed Smith LLP
Steven R. DeLott
Simpson Thacher & Bartlett LLP
Robert H. Rosenzweig, RPLU
VP/National Cyber Risk Practice Leader
Risk Strategies Company
For an updated list of the faculty panel, please visit:
About The Knowledge Group/The Knowledge Congress Live Webcast Series
The Knowledge Group, brings together the world's leading authorities and industry participants through informative two-hour webcasts that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.
Visit http://theknowledgegroup.org/ for further information and inquiry.