I
have been in the insurance industry for
more years than I want to admit and until
now have felt pretty comfortable with the
technical expertise and marketplace knowledge I
have acquired over my 40-year insurance career.
I was therefore quite thrown a few months ago
when I was asked by a member some technical
coverage questions regarding cyber liability and was
at a loss to respond with any answers I felt totally
comfortable with.
In my position with Agency Services Corporation
of Kansas (AScK), KAIA’s wholly owned insurance
agency operation, I visit with many member agents
and started to ask them questions about cyber
coverage. Not all, but the vast majority of member
agents I spoke with had very little knowledge
about cyber coverage. Many admitted that in most
cases they found it difficult to have productive
conversations about cyber coverage with their clients
due to lack of knowledge of client exposures and the
product itself.
While I continue to expand my knowledge base on
cyber I wanted to share with members some of the
things I learned to aid in their education and to
share resources that their agency may find helpful.
Cyber Facts
Here are some interesting facts surrounding
cyber crime:
1. GLOBAL PROBLEM: Cyber crime is the fastest
growing crime in the world. All technology
companies work hard on providing online security
solutions, but criminals from around the world
especially in Asia, Eastern Europe and Russia work
24/7 to come up with new ways to steal information.
The global nature of cyber crime makes solving and
prosecuting crimes more difficult.
| September - October 2017 | KANSAS INSURANCE AGENT & BROKER
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