The claims process following a data breach is something anincreasing number of insurers — and insureds — need to understandmore clearly, and in his presentation at the recent New YorkChapter meeting of the International Information System Security CertificationConsortium, Markel's Director of U.S. Professional Liability DavidT. Vanalek outlined the claim's team's vital role when proprietaryinformation is compromised.

One of the roles of the claims organization is to shepherdpolicyholders through the breach-response process. The process canbe complex, depending on the scope of the incident; Vanalekmentioned that increasingly, insurers are hiring lawyers out ofprivate practice with expertise in cyber-related legal issues due totheir complexity.

After a breach, Vanalek explained, the claims group is theprimary point of contact between the carrier and policyholder. Assuch, it's important for policyholders to know in advance preciselywho their point of contact is should their help be needed,especially for large organizations with significant liabilityexposures.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.