This course has two major goals. The first is to provide an overview of the kinds of situations that can give rise to both property and liability losses when a business engages in cyber and electronic activities. More specifically, companies that use e-mail, operate a website, take orders online (and collect customer data in the process), participate in social media activities, or engage the services of a cloud provider are exposed to significant potential first-party property and third-party liability claims.
The second objective is to offer a detailed look at the kinds of policy forms that have been designed to cover these exposures. Thus, the second half of the course begins by analyzing the policies’ insuring agreements and continues by discussing other key provisions, such as insured persons, insured organizations, defense/settlement, coverage limits, and retentions. 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.