Price: Member: Free / Non-Member $180
Location: Online via Zoom
1 CE credits for general and adjuster licenses
In 2023, Allianz pinpointed cyber threats as the top risk confronting businesses, highlighting a significant market opportunity for insurance brokers. The cyber insurance market is anticipated to grow from $7.8 billion in 2020 to $20.4 billion by 2025. As cyber risks like ransomware, business email compromises, and data theft evolve, businesses are increasingly recognizing the importance of safeguarding against financial, operational, and reputational damages. For insurance brokers, this presents both an opportunity and a challenge. While the demand for cyber insurance escalates, brokers face difficulties due to stringent insurer demands and elevated premiums. Beyond mere insurance policies, brokers can add value by educating clients about the myriad of cyber risks, emphasizing not just the familiar ones like phishing but also lesser-known threats. Proactive solutions, including Managed Detection and Response and Cyber Awareness Training, can be instrumental offerings for brokers to differentiate themselves. Phishing remains a dominant concern, with tactics such as emotional hijacking and impersonation targeting human vulnerabilities. For brokers, this emphasizes the importance of integrating educational components into their offerings. Real-world examples, from funds transfer fraud to ransomware, underscore the tangible consequences businesses face without adequate coverage. In this evolving landscape, insurance brokers are positioned to not just sell policies but also offer holistic solutions, expert partnerships, and education to clients
Topics covered:
- Overview of Cyber Risks in 2024
- Cyber Insurance Market Analysis
- Nature and Types of Cyber Risks: Detailed insights into various cyber threats, such as ransomware, business email compromise (BEC), social engineering, brute force attacks, vulnerability exploits, and data theft.
- Exposure Analysis
- Proactive Measures against Cyber Threats
- Deep Dive into Phishing
- Real-World Implications of Cyber Attacks
- Holistic Approach to Cyber Risk
- Conclusion and Call to Action
Instructor | Darren Reaume
Darren spent many years in the insurance industry before moving to the world of Cybersecurity. Darren leverages over two decades of multifaceted experience as an Administrator, Senior Mentor, Course Developer, and Cyber Security Operations Manager to illuminate the path for both corporate clients and budding professionals entering the cybersecurity field. Darren has created and instructs a comprehensive suite of cybersecurity courses ranging from Cybersecurity Basics for Non-IT Professionals to advanced levels of Applied Penetration Testing. Darren’s academic and professional credentials are equally impressive with a background in AutoCad, Geomatics, several programming languages, and specialized certifications such as Certified in Cybersecurity (CC) from ISC2, further supported by his ongoing pursuit of Security certification from COmpTIA. Darren’s dynamic approach to cybersecurity education bridges the gap between theoretical knowledge and practical application