Virtually no organizations are immune to the risks associated with the Internet and electronic commerce. Nearly all businesses—regardless of industry or size—now, at a minimum, have access to the Internet, operate an internal e-mail system, and maintain their own websites. In addition, a vast amount of businesses are also in a position to solicit and process orders for their products using “e-commerce.” These diverse types of cyber-space activities give rise to a variety of liability and property loss exposures, along with the need for insurance policies that cover these exposures

This courses takes a look at the types of exposures companies face and provides a detailed review of the kinds of policy forms that have been designed to cover these exposures. The course concludes by examining the most common exclusions found within cyber and privacy policy forms, focusing on the manner in which such wordings vary from insurer-to-insurer, and explaining how these variations exert significant impact on the scope of coverage that cyber and privacy policies provide.

Upon completion of this course, students will be able to:

• recognize the 10 key areas of confusion inherent in cyber and privacy coverage, beginning with the fact that it is referred to under different names by different insurers
• list and describe the three major types of third-party liability losses and the eight major types of first-party property losses that result from cyber and online activities loss
• identify various loss control measures that can be applied to eliminate, or at least reduce, the extent to which a business can be financially impacted by these loss exposures
• identify the most important exclusions found within cyber and privacy forms, explain how different insurers’ versions of these same exclusions vary, and understand how such differences impact the scope of coverage the policies provide

Property and casualty risk, safety, insurance, and finance professionals