Bank Insurance Mistake – Cyber Insurance – Inadequate Privacy Mitigation Coverage

Obviously, I want my bank clients to have cyber liability insurance. (Some banks still don’t have the coverage!) However, it’s the second part of the cyber policy that I'm most concerned with. If you have a data breach, you’ll have to notify your bank's customers. Expenses in mitigating a privacy event can reach $100 to $200 per breached name. … [Read more...]

Cyber Insurance For Bankers Webinar Video

Here is the replay of my recent webinar on cyber insurance for bankers. … [Read more...]

Watch My Cyber Insurance For Bankers Webinar

You can view the recording of my May 12th webinar on Bank Cyber Insurance by going HERE. I cover cyber liability, funds transfer fraud, debit card losses, computer equipment coverage, and other related cyber insurance issues. … [Read more...]

Data Breach / Privacy Breach Planning

Your IT people have a plan to manage a data breach.  Contact the person who manages that plan; the person who will lead the team in the event of a breach. Ask how your cyber insurance company is involved in the plan. Many insurers have resources that MUST be utilized at the onset of breach remediation to protect your insurance coverage. Your IT … [Read more...]

Is Your Bank Covered For Cyber Fraud?

My latest article for Banking Exchange...  E-Banking insurance issues are by far the most common question-topic I get from bankers.  Cyber liability insurance, cyber crime, e-hacking, etc. The arms race that is computer security goes on and on. As your fraud prevention systems get better, the bad guys get better at being bad. Your insurance must … [Read more...]