DATE: Thursday, January 26, 2023
TIME: 5:00 PM - 6:00 PM
ORGANIZER: Hawaii RIMS Chapter
January 26, 2023 from 5:00-6:00 pm EST (12:00-1:00 pm Hawaii time)
Sophisticated theft has long been the bane of many organizations: partly because this type of theft often is substantial and partly because the theft has been going on for some time—perhaps even years—before detected. Crime insurance is a valuable insurance asset but is not without its traps and “fine print” conditions that insurance companies will seize upon to avoid or minimize claim payments.
This presentation will outline some fundamental risk management techniques and crime insurance points that all risk managers, CFOs, Treasury personnel, and in-house lawyers should be well versed in. Additionally, the program will discuss so-called “direct loss” defenses for internal and external crime perils that insurance companies may use to deny insurance claims. Last, the program will discuss crime insurance protection for cyber theft under the “Computer Fraud” insuring grant that has been a focal point in multiple court contests.
Joshua Gold is a shareholder in Anderson Kill's New York office and chair of the firm's Cyber Insurance Recovery Group. He has represented numerous corporate and non-profit policyholders in various industries, with recoveries for his clients well in excess of $1.5 billion. These include a multi-million dollar recovery in a landmark Sixth Circuit court decision finding crime insurance coverage for a retailer that suffered a data breach as a result of a computer hacking scheme. Joshua Gold is also the firm’s co-chair in the Marine Cargo Insurance Group of Anderson Kill, P.C.