The PIA Partnership Presents: Cyber 101 Essential Information You and Your Clients Need to Know About Cyber Fraudulent Funds Transfer Extortion/Ransomware Social Engineering Business Interruption Data Breach/Privacy Network Security Media Liability 

Presented by ABA Insurance Services David Rupnow, CPCU, RPLU Product Manager D: 216-220-1293 | E: drupnow@abais.com Dave has over 25 years of experience in underwriting and managing professional liability insurance programs to the small-medium business niche. With a focus on improving the efficiency and agent experience to rate/quote/bind insurance, he was key in the development and implementation of ProCision®, a new, next generation, multi-product quoting platform available through ForAgentsOnly.com. Lisa Micciche, CPA Product Manager D: 216-220-1297 | E: lmicciche@abais.com With over 15 years of underwriting, financial and management experience, Lisa is responsible for product development and modifications to existing products, as well as sales, claims, and competitive analysis for both the Bank and Small Business Insurance Programs of ABA Insurance Services. She was instrumental in the development of the Bank Program’s cyber insurance product. ABA Insurance Services is a managing general agency, program administrator and wholesale brokerage that offers professional and management liability lines, financial institution bonds, surety bonds, property, and general liability insurance to banks, small businesses and nonprofit organizations.

What we will cover in this webinar What is Media Liability? Media Liability in the News Why Media Liability Matters? Coverage Overview Additional Points to Consider Best Practices Is it Covered? Q&A © 2018 ABA Insurance Services Inc. dba Cabins Insurance Services in CA, ABA Insurance Services of Kentucky Inc. in KY, and ABA Insurance Agency Inc. in MI. Notwithstanding any language to the contrary, nothing contained herein constitutes nor is intended to constitute an offer, inducement, promise, or contract of any kind. All coverage descriptions and claims examples are provided for informational and educational purposes only and are not a representation as to coverage for any particular claim and are not represented to be error free. Coverage for any claim is determined upon the specific facts of the claim, the terms and conditions of the policy and applicable law. For details on the coverage provided by your specific contract of insurance, please refer to your policy. Coverage is subject to underwriting guidelines and may not be available in all states. Limits may be capped for underwriting reasons. Any links to any sites which are not originated by ABA Insurance Services Inc. (ABAIS) are provided only as a courtesy and are not intended to nor do they constitute an endorsement by ABAIS of the linked materials. All rights reserved.

What is Media Liability? (And why is it in a Cyber Insurance Policy?) Media liability insurance is a form of errors & omissions insurance that provides coverage for publishing acts. Defamation, libel, slander, disparagement Invasion of privacy Plagiarism Copyright infringement Advertising Injury (some forms)

Media Liability in the News “Not Guilty” Doesn’t Matter to the Internet Court Findings: While the couple’s lawyers ultimately narrowed the suit to a few key individuals, a jury awarded the Leshers with a $13.78 million judgment. Source: https://abcnews.go.com/Business/jury-awards-13-million-texas-defamation-suit-anonymous/story?id=16194071

Media Liability in the News “Loose, figurative, and hyperbolic statements are almost always considered opinions, not facts.” Court Findings: The court stated that the tweets amounted to “nonactionable opinion,” citing numerous cases where courts had concluded that statements made on social media, such as Facebook and Twitter, were less credible than those made in print because social media is deemed less credible. But…Trump still had to pay Defense Costs. Source: https://www.thompsoncoburn.com/insights/blogs/internet-law-twists-turns/post/2017-01-17/trump-libel-win-based-on-trump-libel-loss

Why Media Liability Matters Small Businesses Use the Internet The internet is becoming the largest medium for advertising. 75% of small business owners see internet marketing as an effective tool to attract new customers. 71% of small businesses do their own digital marketing. 47% of small business owners handle marketing efforts on their own. Source: https://devrix.com/tutorial/small-business-marketing-statistics-trends-2018/

Why Media Liability Matters Small Businesses Use the Internet Claims Triggered by Online Posting Activity Suit was brought against a company for defamation because an employee used a company computer to post a negative opinion about a previous employer. A medical clinic was sued when private patient information was posted online. Source: http://insurancepartners.biz/wp-content/uploads/2011/02/Travelers-White-Paper-Social-Media-and-Your-Business.pdf

Coverage Overview: How Cyber Insurance Can Help Insurance pays for third-party damages and legal fees incurred as a result of a media wrongful act committed via the Insured’s organization’s website or social networking account. Some policies may cover printed material, as well.

Coverage Overview – Media Liability Coverage varies widely. Does the policy cover both electronic and non-electronic media? Are intentional acts of misappropriation covered? Are advertising errors covered?

Best Practices Monitor online presence Understand how your business in being portrayed online. Decide what type of statements require a company response. Have a written policy that covers all forms of electronic communication Decide which employees have authority to publish social media or website material Conduct periodic reviews of website and other published material Train employees Train employees on the risks of using social media for both the company and themselves

Media Liability: Covered Claim, Yes or No? Answer: Yes Copyright infringement is a covered peril under the Media Liability section of a Cyber Insurance Policy (depending on the carrier).

Media Liability: Covered Claim, Yes or No? Answer: Yes Product or company disparagement is a peril covered by media liability insurance (depending on the carrier).

The PIA Partnership Presents: Cyber 101 Questions The PIA Partnership Presents: Cyber 101 Available now at www.pianet.com/pia-partnership/cyber101