Jun 29 2024 57 mins
Can your business survive a catastrophic cyber incident? Learn how to shield your company from devastating financial losses with insights from our guests, Kevin Landers of Rocketwise and Joseph Brunsman, a cyber insurance expert. We start by discussing the urgent need for annual technology audits in dealerships to mitigate risks and comply with FTC safeguards. Kevin highlights the importance of conducting thorough risk assessments and engaging vendors with self-assessment questionnaires. Meanwhile, Joseph sheds light on the critical role of cyber liability insurance in protecting your business from financial fallout due to cyber threats.
Uncover the complexities of cyber insurance and the personal liability risks for business leaders in the wake of a cyber catastrophe. We'll explore the limitations of cyber insurance, such as waiting periods and sublimited coverage, and the intricate process of filing claims. Learn about the heightened scrutiny from insurance companies on third-party risk management and vendor security, as well as the legal and financial responsibilities of data owners versus data holders. Discover the rising trend of class action data breach claims and what it means for businesses that fail to manage third-party risks effectively.
Finally, we tackle the evolving landscape of cybersecurity and insurance. Understand the distinctions between data holders and data owners and the impact on educational institutions and compliance with data laws. We share personal anecdotes of hacking incidents and discuss the potential for increased security measures mandated by insurance companies and government bodies. Learn practical advice on enhancing your security posture and the implications of rising premiums and tightening underwriting standards. Join us for an hour of expert insights and practical tips to keep your business secure and resilient.
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