Topic: The Rising Cost of Cyber Security Insurance

Speaker : James Reed, USI

As cyber risk is growing, the cyber risk has become heavily scrutinized, and the market has been limited for some industry classes. Insurers are taking bigger losses, seeing tighter margins, and relying more on reinsurance to cover their own risk. The result is that companies are getting less protection for more money. An uptick in data breach litigation and skyrocketing costs tied to ransomware attacks and other cyber related incidents are making it more difficult - and more expensive - for companies to secure insurance policies that help them cover financial hits.

Agenda

6.00pm-6.45pm Informal Networking

6.45pm-7.00pm Introductions

7.00pm-7.50pm Presentation

7.50pm - Wrap Up/Questions

Light refreshments will be provided by our hosts, USI.

James is Vice President-Regional Cyber Advisor for the Super West Region (West/Northwest/Southwest Regions) for USI Insurance Services within the Executive & Professional Risk Solutions Practice (EPS).  My responsibilities and expertise is focused on Technology E&O & Cyber Insurance Products along with cyber risk management consulting for emerging middle market to Fortune 1000 companies in various industry verticals.

James has over 24 years of experience within the insurance industry both on the brokerage and the carrier side.  From 2017 to 2022 he served as VP-Western Regional Leader for Allied World Insurance Company and prior to that he was an Underwriting Consultant for CNA Insurance Company for 5 years and also worked as the National Accounts Manager for Zurich Insurance Company for 2 years with a particular focus on Cyber & Technology Insurance Products.  Prior to this, James was on the brokerage side for 12 years at Marsh; Frank Crystal & Co. (Alliant) & Beecher Carlson (Brown & Brown) respectively within the Management & Professional Lines Divisions.  

James is a Certified Information Privacy Professional (CIPP/US) which is a designation for Privacy Professionals for proficiency in US Privacy Laws and Regulatory Environment. He earned his B.A. in History from Kean University in New Jersey. 

James has served on the Comet Education Fund Board for 7 years which is a volunteer non-profit organization that raises funds to provide additional education support and resources to the local elementary school; additionally serves as a board member for the Diablo Valley Scorpions Lacrosse Club in Danville, California.

Relocated from New York City to the Bay Area 10 years ago; James lives with his wife and 4 young children in Danville, California.  
 

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