Total Credits: 1 including 1 CE Credit
This hour of continuing education is focused on describing the current state of the underlying risk in the cybersecurity world and the insurance implications for producers and their clients.
The first of the four seminar parts details how many small insureds are not prepared for the risk of a cyber-attack. It also explains how this risk has been increased or accelerated with the developments in 2020, with more business being conducted via email and on e-platforms such as GoToMeeting and Zoom.
The second section discusses cybersecurity legal requirements. The theme of this area is that there are multiple laws which may affect clients, depending on what industry they are in. However, there is a degree of consistency in these various laws that can help when a producer is advising about risk. The conceptually consistent principles of cybersecurity law are discussed in two ways.
Amplifying on this legal aspect of the cybersecurity risk, the third section shifts focus to third-party liabilities and lawsuits. It draws on “real world” exposure from a data breach, the new California Consumer Privacy Act and the coming tide of biometric protection statutes.
The final portion of the hour turns to the ongoing struggle over the scope of cybersecurity coverage by focusing on a pair of recent coverage decisions. The two decisions: (a) illustrate the possible gaps in coverage; and (b) examine ways in which the policy language itself might be “undone” or overridden by promotional assurances of coverage. Thus, the seminar can address the errors and omissions implications for this field. Finally, other decisions in this field are mentioned, along with the interesting question of whether coverage may be precluded by the “acts of war” exclusion existing in so many policies.
|IMPORTANT_CE Credit Instructions_for_Video_on_Demand_Webcasts_Updated (135.2 KB)||Available after Purchase|
|Handout (574.1 KB)||Available after Purchase|
|Cybersecurity Risk and Insurance Are..._Q&A (12.8 KB)||Available after Purchase|
Richard S. Pitts is a private practice attorney in the insurance industry. Rick serves as Vice-President and General Counsel to Arlington/Roe & Co., Inc., an insurance brokerage and managing general agent headquartered in Indianapolis. Rick also serves as general counsel to the Independent Insurance Agents of Indiana, Inc., as well as its sister organization in Kentucky. Rick speaks annually at the “Roadshows” in Kentucky and Indiana’s Agency Compliance Seminars and presents various seminars on insurance and employment related matters. Pitts has also presented continuing education seminars to insurance professionals nationally through industry groups including the National Alliance for Insurance Education and Research.
Rick is a 1983 graduate of Wabash College and a 1986 graduate of Indiana University School of Law – Indianapolis. Pitts clerked for the Honorable Patrick D. Sullivan, a judge of the Indiana Court of Appeals in 1986-87. Rick is admitted to practice before Indiana state and federal courts, the United States Supreme Court and the United States Court of Appeals for the Seventh Circuit and is a member of local, state and national bar associations. Pitts has tried multiple cases and participated in over seventy appeals.
Pitts is the recipient of the “Excellence in Continuing Legal Education Award” from the Indiana Continuing Legal Education Forum (ICLEF), having served as a panelist and lecturer on a variety of continuing education subjects. Pitts has co-authored two articles appearing in the Indiana Law Review.