Module 1: Cyber Insurance
Module Description
This module provides an introduction to cybersecurity insurance. Many companies are now required to have cyber insurance to work with the federal government, their contractors and other commercial entities. Digital asset quantification aligns exactly to how a cyber insurance claim will be paid. Having the right amounts and steering clear of exceptions is critical to ensuring an investment.
Ransomware is rising exponentially over the past few years and more so with the Corona Virus pandemic. The course provides students with a method to create an effective ransomware strategy and gauge their preparedness for a ransomware attack.
In this module, students will understand how to quantify cyber insurance and calculate the aggregate limit, and sub-limits including cyber extortion, business interruption and privacy sub-limits. The module explores first and third-party cyber risks and identifies gaps in current property and casualty insurance policies where claims would not be paid. A cyber insurance case study is required that explores a data breach or ransomware attack. Students learn trends and statistics and gaps in cybersecurity programs that might result in unpaid claims and how to avoid them.
Here are the main objectives of the cyber quantification lab:
Aggregate limit calculation
Cyber extortion sub-limit calculation
Business interruption sub-limit calculation
Privacy sub-limit calculation
Module Grade
Each student is expected to satisfy the following requirements:
