The claims process following a data breach is something an increasing number of insurers — and insureds — need to understand more clearly, and in his presentation at the recent New York Chapter meeting of the International Information System Security Certification Consortium, Markel's Director of U.S. Professional Liability David T. Vanalek outlined the claim's team's vital role when proprietary information is compromised.
One of the roles of the claims organization is to shepherd policyholders through the breach-response process. The process can be complex, depending on the scope of the incident; Vanalek mentioned that increasingly, insurers are hiring lawyers out of private practice with expertise in cyber-related legal issues due to their complexity.
After a breach, Vanalek explained, the claims group is the primary point of contact between the carrier and policyholder. As such, it's important for policyholders to know in advance precisely who their point of contact is should their help be needed, especially for large organizations with significant liability exposures.
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