Later in December, Author and Consultant Fred C. Wootan C.P.C.U will discuss Liability in Cyberspace.
Liability in Cyberspace will provide information about who, what, when and where cyber liability may occur and how to deal with the issues for both your customer and yourself. Traditional liability products do not address internet exposures and risks involved in an internet business. If a business has a web site it has some of the same exposures as publishers such as copyright infringement, defamation, and even invasion of privacy.
As an agent you have the responsibility to ask the right questions to determine the customer’s exposures at a minimum, and to properly provide all the insurance protection needed at a maximum. In reality, you will find yourself somewhere in that range. Your long term professional viability and success rely on how well you do this job. Must you be an authority on all things of mankind? No. But, remember never stop learning as the world is a dynamic place. The internet and its use by businesses can easily be said to be at the forefront of that dynamism. Your personal lines accounts are also not exempt from this. Think about what we have today in the social media area compared to ten years ago.
The following is an incomplete list of areas of concern for discussion:
- Multimedia and liabilities of defamation etc.
- Security and privacy liabilities
- Privacy issues including: breach of privacy, extortion, terrorism, regulatory claim expenses and audits
- Website exposures
- General Liability coverage gaps
- Computer virus transmissions
- Loss due to credit card uses
- Loss from losing a laptop containing sensitive information
- Loss of income due to intellectual property theft
- Issues involving legal jurisdictions
- Liability from alleged injury due to video games
Upon reading this list you probably figured out that the distinction between first and third party exposures has become obscured. Therefore it is incumbent upon you, the agent, to deal with this.
You can’t expect that the general liability, property, directors and officers or professional liability policies can handle liability exposures from cyberspace. Your job doesn’t end there
Fred C. Wootan, CPCU