Cyber Insurance

Might it be the case that the insurance industry and the brokers who offer their products are more advanced in their risk management capabilities, practices and offerings than the guidance provided ? Compared to the guidance some management teams might think they are ahead of the curve and best practice to have been protecting themselves with this coverage for some years now. The coverage does not answer all cyber concerns through risk transfer, so clear understanding of what is and is not being purchased still prevails.

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Howard Gould
Board Member
Western Alliance Bank
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Original Message:
Sent: 04-16-2018 11:56
From: John Ezell
Subject: Cyber Insurance

​​I'm surprised to see The FFIEC issue a join statement on the "potential" role in risk management of cyber insurance. Are there many bankers you speak with who don't have that in their insurance package? Or, many IT examiners who don't expect it?

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John Ezell
Senior VP & Cashier
Redstone Bank
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