This CLE webinar will provide insurance counsel with the knowledge to analyze the availability of coverage for claims against Chief Information Security Officers (CISOs) under new CISO policies as well as reassess the challenges of finding coverage under traditional company policies such as D&O or E&O policies. The program will analyze the types of claims and liabilities to which CISOs are increasingly vulnerable after a data breach or alleged privacy violation, the impact of this increased risk on companies, how they are responding, and the current and emerging coverage disputes that the new policies are designed to respond to.
Cybersecurity executives face ever-increasing and often staggering potential liability arising from data and alleged privacy breaches in the form of lawsuits, government enforcement, and investor or other class action litigation. In recent years, CISOs have faced criminal charges for alleged cover-ups and purported reckless conduct. Finding insurance to cover CISO defense or indemnity has been a challenge, and without protection, leaders and experts in this critical field will be unwilling to take on the necessary duties.
It is unclear whether D&O, E&O, EPL, or any other type of company policy extends coverage to claims against the CISO. Often the CISO is not an "insured" under these policies. Allegations of intentional and criminal conduct as well as government investigations are often excluded. Nonetheless, sometimes multiple policies can be read together to find coverage.
As a result of these gaps and ambiguities, and growing risk, specific CISO policies are now available, but they must be carefully analyzed. These new policies may leave holes and still have exclusions that must be navigated. Counsel will need to analyze the specific policy language, conditions, provisions, and exclusions, and apply them to the type of claim alleged and facts of the claim.
Listen as our panel of cyber insurance SMEs offers guidance about the types of claims and liabilities CISOs face, current and emerging coverages and disputes, exclusions and gaps, and conflicts that can arise between the CISO and the company.
