Innovation Insurance Group

Advisen.Ltd Nominates BitSecure(tm) as its 2015 Cyber Risk Innovation of the Year

Ty R. Sagalow — Mon, 20 Apr 2015 13:52:29 +0000

April 20, 2015 (New York). Advisen, Ltd, a well known leader in insurance education and insight announced their nominees for the 2015 Cyber Risk Awards. Innovation Insurance Group along with XL Group was nominated as this year’s Cyber Risk Innovation of the Year for its new to the market BitCoin Theft Insurance policy, BitSecure™.

BitSecure was designed by Innovation Insurance Group and Bitcoin Financial Group to provide “first of its kind” coverage for policyholders and their customers for theft of bitcoins, whether by electronic or non-electronic means, regardless of whether by a “rouge employee” or an outsider.

BitSecure has been called a “Watershed Event” byCoinDesk, ”a first for the digital currency industry” according to the Wall Street Journal and, in the words of Bitcoin Magazine, the policy is “ushering in a new era in bitcoin security”.

For more information, including a Voting Ballot, click here.

ANDERSON KILL SEMINAR: CAN CYBER INSURANCE STAND IN THE [DATA] BREACH?

Ty R. Sagalow — Thu, 16 Apr 2015 15:04:15 +0000

WEDNESDAY
MAY 6, 2015

Westin Times Square
270 West 43rd Street
New York, NY

REGISTRATION:
2:30-3:00 pm

CONFERENCE:
3:00-5:00 pm

NETWORKING RECEPTION:
5:00-6:30 pm

COST:
Complimentary
with RSVP

CLE APPROVED:

NY CLE: 2.0 credits

PA CLE: 2.0 credits

NJ CLE: 2.4 credits presumptively approved

New York, NY, Ventura, CA, Philadelphia, PA, Stamford, CT, Washington, DC, Newark, NJ, Dallas, TX
www.andersonkill.com

PROGRAM OVERVIEW

Just when you thought computer network breaches couldn’t get any worse, news of the massive Sony Pictures Entertainment Inc. hack raised concerns beyond the privacy and data liability issues seen in other recent high-profile cyber-attacks. It was a nightmare as far as data breaches go, with political, nationalistic, proprietary property theft, reputational and employment implications.

The good news is that there are options in the cyber insurance market and businesses can shop not only on the basis of price but for policy terms that cover their actual risks. Traditional lines of coverage, including crime, property, general liability and D&O, can also provide significant coverage when a breach occurs — though new exclusions are pushing more businesses toward specialty policies. In this rapidly evolving market, it’s essential to analyze both existing coverage and the terms offered in competing cyber insurance policies.

This session will spotlight key policy provisions to insist on and others to avoid. We will also step back and view cyber insurance in the full risk management context, including prevention and the post-breach planning that properly designed insurance coverage will fund. We will outline an approach to cyber security that focuses as much on human factors — building staff awareness and the right protocols — as on technological factors.

Joshua Gold
Shareholder
Anderson Kill
Conference Moderator

Darin J. McMullen
Shareholder
Anderson Kill

David E. Wood
Shareholder
Anderson Kill

Kevin P. Kalinich, Esq.
Global Practice Leader: Network Risk/Cyber Insurance
Aon Risk Solutions

A. Bryan Sartin
Director, RISK Team
Verizon

Ty Sagalow
President
Innovation Insurance Group, LLC

Visit our website at www.andersonkill.com/events.asp
Telephone Sonia Smalls at (212) 278–1400
Email seminars@andersonkill.com

Cybersecurity Insurance Opportunities for Legacy Players and New Entrants hosted by Ty Sagalow

Ty R. Sagalow — Thu, 12 Feb 2015 21:21:31 +0000

GLG CLIENT AUDIO SESSION: CYBER INSURANCE, Opportunities for Legacy Players and New Entrants, hosted by Ty Sagalow. After a series of costly and embarrassing data breaches in 2014, companies are assessing the economic ramifications and legal liabilities of cyberattacks. Ty Sagalow, President of Innovation Innovation Insurance Group, will address how the increasing threat of cybersecurity fraud is driving growth in the insurance industry. Call is scheduled for Feb. 12, 2015 at 11am and is open only to GLG Corporate members. GLG is one of the world’s largest membership network

LA Times: Spending on Cyberattack insurance soars, quoting IIG CEO Ty Sagalow

Ty R. Sagalow — Thu, 12 Feb 2015 20:59:53 +0000

February 9, 2015 (Los Angeles). This LA Times article discusses the increase in cyber insurance due to the hack of Health insurer’s Anthem Inc’s computer system – affecting up to 80 million customers, and similar attacks over the last few years. According to the article “Hackers are wreaking havoc on big organizations, but they’re also spurring a new market- cyberattack insurance.” The article quotes several leading experts on cyber insurance including IIG CEO & Founder, Ty Sagalow:

Ty Sagalow, an industry consultant and former chief operating officer for AIG’s EBusiness division, said the growing sense that cyberattacks are no longer unusual events is dialing up the fear factor.

“Think of a massive cyberattack as an intelligent hurricane,” Mr. Sagalow said. “If it hits a house that doesn’t fall down it learns why the house didn’t fall and it changes. “It is a scary thing…. Scary things sell insurance.”

2014 Cyber Liability Summit – Oct 15

Ty R. Sagalow — Fri, 19 Sep 2014 18:25:49 +0000

IIG PRESIDENT, TY SAGALOW, TO PRESENT ON THE FUTURE OF CYBER CLAIMS

(NEW YORK, OCT 15, 2014). IIG President will be joined by Thomas Kang from ACE Insurance and John F. Mullen of Lewis Brisbois Bisgaard & Smith LLP in presenting Cyber Claims Crystal Ball during which the panelists will discuss the future of cyber claims and risks. The session is hosted by the Claims and Litigation Management Alliance.

Cyber Liability Seminar – Sept 17

Ty R. Sagalow — Wed, 03 Sep 2014 17:44:07 +0000

DALLAS, SEPT 17, 2014, IIG President, Ty Sagalow, will join Wilson, Elser and Ironshore in presenting a half day seminar in on the responsibilities of the board of directors on cyber risk risk management.

In the wake of the recent attacks against major retailers such as Target and Home Depot, in addition to the frequent attacks against financial institutions, it is critical for boards to understand their non-delegable duty to manage the risks of cyber-attacks against their organizations.

Included will be a fun educational “mock” board meeting following a hypothetical cyber-attack.

Cyber Insurance: A Challenge for Business

Ty R. Sagalow — Sun, 08 Jun 2014 18:30:22 +0000

More businesses are buying policies but underwriters are challenged because the losses are difficult to quantify and attackers are constantly getting more advanced.

The article quotes Deloitte, ACE, Good Harbor, and Innovation Insurance Group President Ty Sagalow who summarizes bottom line: “Insurer’s can’t afford not to be in this thing.“

Insurance Seen as Key to Cyber-Security Standards

Ty R. Sagalow — Fri, 16 May 2014 16:03:28 +0000

When it comes to securing America’s companies against cyber threats, there is one place lawmakers, the executive branch and the private sector itself are all looking: insurers.

This article discusses cyber risk and cyber insurance from the point of view of the Executive Branch of the U.S. Federal government and includes comments by members of the private cyber insurance industry including Innovation Insurance Group President Ty Sagalow.

Insurance Thought Leadership Speaks with Ty Sagalow on Cyber Risk

Ty R. Sagalow — Wed, 30 Apr 2014 16:10:33 +0000

In this third installment of the Ty Sagalow Insurance Thought Leadership series, Mr. Sagalow is asked about the current status of cyber risk and the cyber risk insurance industry as well predictions to the next versions of cyber risk insurance.

Ty Sagalow to Speak on Cyber Risk at 2nd Annual ACI Financial Institutions Liability Forum

Ty R. Sagalow — Wed, 16 Oct 2013 17:09:16 +0000

Financial institutions are facing record exposures and increasing obstacles to securing insurance, due to the fallout from the financial crisis and an era of heightened regulation. E&O, D&O, fiduciary liability, cyber risk claims, financial fidelity (bond), even P&C – on a variety of fronts, insurance professionals and policyholders are looking for answers on assessing risk, managing litigation, defending claims and altering underwriting processes going forward to address the changing financial institution landscape.

Mr. Sagalow will be speaking on coverage issues in the Insolvency Exclusion and recent new products for Financial Institutions for intellectual property as part of the session: “E&O and Fiduciary Liability Coverage: What Financial Institutions, Carriers, Brokers and Counsel Now Need to Know in Today’s Competitive Market.“