Join Anderson Kill Thursday, May 6, 2021, from 1:00 PM – 2:45 PM ET for their 6th Annual Cyber Insurance Recovery Webinar.
Kelly Geary, EPIC National Executive Risk & Cyber Practice Leader, will participate in a panel discussion about biometrics where panelists will review risks, the technologies that companies need to think about, and the types of policy lines and terms that may be best suited to offer protection.
The pandemic has fundamentally altered the way many organizations operate and communicate, with a network of hundreds of millions of “home offices” across the world with new cyber functionality – and many new cyber threats. Couple that risk landscape with a more potent and dangerous ransomware scourge and it’s clear there is still much to do to combat the risk of wholesale disruptions and computer–enabled theft. Ransomware itself over the last year has become an even more dangerous attack vector. In addition to financial loss from extortion payments, these attacks implicate data theft and privacy breach concerns. Understanding these risks is a critical part of a proactive approach to corporate risk management and insurance mitigation strategies.
Biometrics is more than just a new buzzword. Though laws covering biometric information have been around for over a decade, the increased actual use of biometric data – due partially to the pandemic and partially to increased comfort with technology – has led to liability issues and litigation. Coverage litigation is actively underway, concerning liability from the Biometric Information Privacy Act (BIPA). In Illinois, BIPA has been the focus of attention for some time and in 2021 policyholders welcomed favorable court decisions on insurance coverage for biometric-related liabilities. Understanding where biometrics and coverage for related liabilities is heading will only increase in importance as biometric use in traditional business models becomes increasingly widespread.
All of these risks can be – and are being – addressed by insurance coverage. The extent of coverage and success in pursuing claims can vary widely. Skillfully linking insurance coverage with technology risks is key to understanding whether an organization will have insurance protection should the unthinkable happen.