Small Entity Cyber Liability

NetDiligence®

Cyber Risk & PrivacyLiability Forum October 8-9, 2014

Small Entity Cyber LiabilityWhat makes Cyber Liability for Small Business unique?

Speakers

Brian ThorntonModerator

President

ProWriters

Paoli, PA

Jonathan Fairtlough

Managing Director

Kroll Cybersecurity

Los Angeles, CA

Jeromy Shrum

Assistant Vice President

AXIS PRO

Kansas City, MO

Steven Caponi

Partner

Blank Romp LLP

Wilmington, DE

Becky Swanson

Managing Director

Markel

Deerfield, IL

Zachary Scheublein

Vice President

Privacy Professionals

New York, NY

Opening

• Questions to start with?• Anything you would like us to cover?

Questions for the panel

• What have been the biggest challenges in brokering Cyber coverage for Small Businesses? How have you tried to overcome them?

• What have you seen regarding Small Businesses outsourcing IT services to third parties?

• What are the biggest mistakes you have seen Small Businesses make when they have a cyber claim?

• How is the underwriting approach different for Small Cyber? • In the Small Business space – how have the claims been different

than on Larger Business.

Questions for the panel

• What do you see that would help Small Businesses with Risk Management or Incident Response? What tools are clients most interested in? How does this differ from a Larger Business?

• What is the first phone call like when your client has a claim?• How are regulators looking at Small Business vs. Larger Business?• What are the top 2 or 3 things you are looking at when you

underwrite a small business account? Does that differ from a larger account?

• What is the biggest inhibitor to a Small Business buying Cyber Coverage?

Questions for the panel

• What is different when a Small Business has a Cyber Claim?• What are some key best practices that are easy for a Small

Business to implement?• What impact does outsourcing payment processing and other IT

functions have on the exposure?• What is the most common recommendation made to a Small

Business?• From a legal perspective, what is your biggest concern when

advising a Small Business?

Questions for the panel

• Where are we going:– Legal?– Underwriting?– Cyber Security?– Brokerage?

Summary

• Small Businesses lack resources• Small Businesses are low hanging fruit• Small Businesses need to improve education and awareness of the

risk• Small Businesses need an agent / broker that know the cover• A good policy provides protection as well as resources and

education

Thank You