Technology and Cyber Wrap up Navigating the changing and challenging - - PowerPoint PPT Presentation

Technology and Cyber Wrap up

Navigating the changing and challenging risk landscape

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How to prepare for Cyber Risk:

Focus on company culture

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Cyber insurance

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Understand the tech & interconnected risks

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Policy: Protection & Expert Support

Pre-Breach Prevention

• Pre-Breach Assessments,
• Access to selected expert service providers.
• Latest cyber education, penetration testing

and cyber security analysis. (£)

Breach Assistance

• Forensic Investigators
• Legal Services.
• Crisis Management & PR expertise.

Post Breach Support

• Costs incurred to keep /return business to
• perational & restore/recreate data/information
• Loss of revenue/income/turnover
• Legal costs for claims on privacy breach or

network security failures.

Our Partners include:

Our Coverage: What’s New.

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Improved Cyber Cover

Our market leading cover responds to the evolving cyber threats facing businesses.

Now includes as standard:

Existing Cover  Limits up to £15M aggregate.  Incident Response & Notifications Expenses  Remediation Costs  Post Breach Remediation Costs  Senior Officer Personal Funds  Cyber Crime  Phone hacking & PR Expenses  Business Interruption  Cyber Security Liability NEW: Enhancements  Impersonation Fraud  GDPR Actions & Fines  No Retroactive Date  No Excess for Breach Response Provision

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Cyber Wording Enhancements

Term Why is Cover Important? What the Client needs to know:

No Retroactive Date: Full cover from the when the cyber breach first

• ccurred, regardless of how long the virus/hack

was in the system, undiscovered. On average 68% of cyber breaches take months to discover.* It can only take a cyber-criminal minutes to access and compromise a system, so the potential damage in that time frame is severe. Impersonation Fraud: Cover for cyber-incident from social engineering attacks that occur when cybercriminals manipulate staff into breaking standard security policies. Standard Limit is £250,000 with option to increase. Social engineering attacks are growing in sophistication and frequency, and are the biggest security threats facing businesses today. Many methods used by criminals to trick staff including issuing fake communications and invoices. GDPR Coverage GDPR investigations and fines. (Punitive fines not covered) €20m coverage is available, from a standalone pot (included in cover).

• Up to €10 million, or 2% annual global turnover –

whichever is higher.

• Up to €20 million, or 4% annual global turnover –

whichever is higher.

*Verizon 2018 Data Breach Investigation Report **Ponemon Institute’s 2017 Cost of Data Breach Study.

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Cyber Wording Enhancements Cont.

Term Why is Cover Important? What the Client needs to know:

Remediation Costs: Cover to get the business back up and running following an incident; from IT systems, networks, telephony through to manufacturing machinery. No Excess applicable for Breach Response Provision when using our Partner Service, ReSecure. 24/7 access to our specialist partner, ReSecure for expertise & support to get businesses back up and running. If an incident occurs and immediate support is needed then our partner, ReSecure, will deliver their expert services with no excess payment required. Post Breach Remediation Costs: Cover of up to 15% of the claim to mitigate further cyber losses. If improvements and fixes are required to avoid the same cyber incident from occurring again then we pay up 15% of the claims amount to cover the fix.

Gama Sec:

Pre Breach Service

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Malware and web application threats:

Malware Threats Denial of Service (£) Web Vulnerability

GamaSec monitors your website to detect dangerous malware and vulnerable web application threats that can disable a business and damage reputation:

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How GamaSec works:

Gamasec is the first layer of protection:

GamaSec constantly monitors your website to detect dangerous malware and vulnerable web application threats that could disable your business and compromise your reputation.

How it works:

• GamaSec runs daily malware detection & monitoring on your website.
• GamaSec uses AI to scan your web applications for vulnerabilities.
• GamaSec produces regular security reports with recommended solutions

to fix potential vulnerabilities.

Cyber hackers are searching for websites with security vulnerabilities or

• utdated web

applications.

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Security Reports

GamaSec runs unlimited scans and creates easy-to-read reports to keep you updated with web security.

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Five benefits of GamaSec

Free for all CNA Hardy Policyholders Early identification of web vulnerabilities Prevent web hacks and data breaches Cloud based – no installation, new software or coding No technical knowledge required

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About GamaSec

Official third party supplier fully vetted and endorsed by CNA Hardy.

• Cloud based SaaS solution for businesses of all sizes globally.
• GamaSec focuses on website security for small and medium business,

and offers a portfolio of cloud based website security services. Why have we partnered with GamaSec?

• Cyber Technology meets Cyber insurance; provides significant value to

both businesses and insurance companies by reducing the number of successful cyber-attacks and reduce insurance claims.

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Cyber Insurance summary:

Pre breach services

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Award winning claims service and post breach solution

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Market leading wording

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It’s a wrap!

Changing Industries Evolving Risk Landscape Thought Leadership Differentiation: More Than Just An Insurance Product Feedback: Strive To Be Better Look Forward To: A Focus On Financial Lines

Q&A

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Legal disclaimer

The information contained in this presentation does not represent a complete analysis of the topics presented and is provided for information purposes only. It is not intended as legal advice and no responsibility can be accepted by CNA Hardy for any reliance placed upon it. No representation or warranty, express or implied, is made as to the contents of this presentation, or for the omission of any material from this presentation. Legal advice should always be obtained before applying any information to particular circumstances. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products may not be available in all countries.