State of the Market for First- and Third-Party Coverage and Losses: New Underwriting Issues in a Connected World and With Highly Exposed Industries, Today’s Key Considerations for Brokers and Carriers, and
René L. Siemens
Covington & Burling LLP
Senior Vice President, Underwriting
Hudson Insurance Company
Vice President Underwriting Manager
Zurich North America, Specialty E&O
Mario G. Paez RPLU
Vice President Professional Risk Group
Wells Fargo Insurance Services USA, Inc.
Managing Director, Misc. Professional Lines – E&O, Technology & Cyber
Markel – Product Line Leadership
Harry A. Valetk
Baker & McKenzie LLP
- Reviewing the underwriting process – key considerations, policy language, and processes
- Underwriting application, pricing, auditing
- first party similar to contingent business interruption
- third party side: computer virus of global nature, denial of services, etc.
- Key considerations for cyber liability coverage
- New coverage options and issues including:
- Operational risk
- Reputational harm
- Business interruption
- Property damage
- Trends in language
- What are the policy provisions that will be litigated on the coverage side?
- What is the definition of the loss in a policy and does this include statutory liability?
- Penalties for failure to notify