The Art of Cyber Insurance: What's New in Coverage and Claims
summary
Overview of concrete changes: cyber policies remain first- and third‑party but now add endorsements like betterment endorsement, system‑failure and contingent business‑interruption; new lines include auto, personal cyber and crypto; common claim drivers are BEC wire fraud and ransomware (insurers say ransoms drop but BI and forensics costs rise; LockBit keeps copies); underwriters use continuous monitoring (Corvus‑style) and may deny claims for unpatched systems; biometric and pixel‑tracking suits and privilege issues (Capital One) reshape exclusions; MFA, EDR and tested backups lower risk.
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chapters (14)
- 0:00Welcome
- 3:01Current coverage state
- 8:39First vs third-party costs
- 11:11Typical coverage
- 19:23Common exclusions
- 28:55New coverages
- 35:14IoT and physical risks
- 37:18Privacy risks
- 39:04Should insurers pay ransomware demands
- 41:58Reducing cyber risk
- 42:41Top claims trends
- 43:46Insider threats
- 45:12Attorney-client privilege in cyber investigations
- 46:35How cybersecurity investments impact premiums
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