Ransomware and Insurance
Learn the complexities of ransomware risk and how it is evolving. Find out how attacks happen, the potential financial damage, and what to look for when buying insurance coverage. Includes policy analysis and real case examples. A course for everyone facing ransomware risk – especially insurance buyers and insurance professionals.
Subtitles available in
English
French
Spanish
Course Overview
Ransomware has rapidly become one of the most significant cyber threats facing organizations worldwide, with attacks increasing in both frequency and severity. This course explores the nature of ransomware risk and explains how organizations and insurers respond to the financial and operational impacts of these attacks.
You’ll gain a clear understanding of how ransomware attacks occur, the methods used by attackers, and the potential financial damage organizations can face. The course also examines how ransomware-related insurance coverage works, including where coverage can be found, how policies respond to incidents, and the limitations or exclusions that may apply.
Through policy analysis and real-world examples, you’ll explore the components of ransomware insurance, how claims are handled, and what organizations should consider when evaluating coverage. The course also examines strategies for mitigating ransomware risk and improving resilience against this rapidly evolving cyber threat.
Course highlights
Ransomware risk
Insurance
Claims
Informed buying
Learning Objectives
Upon completing this course, you will be able to:
- Explain what ransomware is and the nature of the risk;
- Analyze the ransomware coverage offered by a cyber insurance policy;
- Take steps to improve your organization’s ransomware preparedness;
- Describe what to do and expect in case of a claim; and
- Make well thought out buying decisions.
Course Curriculum
- Welcome
- Course objectives
- Course resources
- Chapter introduction and objectives
- What is Ransomware?
- Terminology – the attack
- How do ransomware attacks happen?
- How do criminals select their targets?
- The financial damage
- Ransomware example
- What are the chances I’ll be a victim?
- Will I be targeted?
- Quiz – Ransomware and Risk
- Chapter introduction & objectives
- Ransomware – risk and loss
- Ransomware coverage on a cyber policy
- What’s not covered
- Ransomware and insurance limitations
- Other limitations
- Quiz – Ransomware and Insurance
- Chapter introduction & objectives
- Ransomware preparedness – secure
- Ransomware preparedness – plan
- Ransomware preparedness – insure
- Quiz – Combating Ransomware
- Chapter introduction & objectives
- Claims reporting requirements
- Claims for first-party loss
- Claims for third-party loss
- What to expect in the claims process
- How do ransomware insurance claims work?
- Quiz – Ransomware Claims
- Chapter introduction & objectives
- What to buy
- Buying cover for ransomware
- Choosing coverage
- What to expect in the application process
- Understanding the insurance application
- Quiz – Buying Ransomware Insurance
- Course Wrap-Up
- Course Survey
- Ransomware and Insurance Final Assessment
Certifications
This is a required course for the following certification programs:
-
- Certified Cyber Liability Insurance Professional → LEARN MORE
Testimonials
Excellent course!
Recommend to all.
Very informative in simple terms!
I found the Ransomware and Insurance 2022 Market Update to be very informative and delivered in simple terms. It will be beneficial to make it available in other languages like Spanish. Perhaps this can be done using a closed caption option.
I really found the Cyber Course very interesting. It made me understand the rationale behind the increased demand for Cyber Insurance, comprehend claims scenarios and relate to policy coverage. It was also very beneficial to go through terminologies and definitions pertinent to the Cyber world.
I’ve been in the industry for nearly 15 years and even I learned some things in this course! It’s a straightforward and intelligent way of presenting a complex issue. Not a small feat. Everyone will find this course helpful, no doubt.
About ITC courses
ITC takes pride in delivering high quality, unbiased courses on professional and management liability insurance and related topics. Designed specifically for online delivery, our courses are interactive, include activities and quizzes, use practical illustrations and real-life case studies and deliver knowledge in bite-sized portions so even just 5 minutes is learning time well spent.
How we build courses
ITC courses are the product of a collaborative approach. We work closely with subject matter experts to build out course content, the ITC design team brings that content to life, and no course is published before undergoing an intense review by an industry panel. Our process also includes post-publication reviews and updates because ITC is committed to delivering quality courses that remain accurate, relevant and up-to-date, long after they are first published.
With ITC, you can take any course at any time. For the best learning experience, a prerequisite may be recommended in the course description.
We’d love to hear from you! At ITC, we’re always exploring timely and relevant insurance topics to support your professional development. If there’s a subject you’d like to learn more about, let us know. Your ideas help us shape future courses and learning opportunities.
We provide a digital certificate of completion for all successfully completed courses. Learn how to access your certificate →
No. ITC does not track CE or CPD credits toward your license renewal. You can access certificates for successfully completed courses through your Student Dashboard. We recommend downloading your certificates and keeping them for your records. Learn how to access your certificates →
Check the CE / CPD page on our website to find out which courses qualify for credit in your jurisdiction then register for your chosen course. Once you’ve successfully completed the entire course, including all the quizzes, you will be prompted to register for your digital certificate of completion.
If your jurisdiction is not listed on our website, ITC courses may still qualify for CE or CPD credit but it will be your responsibility as a student to verify this with your regulator.
Frequently Asked Questions
With ITC, you can take any course at any time. For the best learning experience, a prerequisite may be recommended in the course description.
We’d love to hear from you! At ITC, we’re always exploring timely and relevant insurance topics to support your professional development. If there’s a subject you’d like to learn more about, let us know. Your ideas help us shape future courses and learning opportunities.
We provide a digital certificate of completion for all successfully completed courses. Learn how to access your certificate →
No. ITC does not track CE or CPD credits toward your license renewal. You can access certificates for successfully completed courses through your Student Dashboard. We recommend downloading your certificates and keeping them for your records. Learn how to access your certificates →
Check the CE / CPD page on our website to find out which courses qualify for credit in your jurisdiction then register for your chosen course. Once you’ve successfully completed the entire course, including all the quizzes, you will be prompted to register for your digital certificate of completion.
If your jurisdiction is not listed on our website, ITC courses may still qualify for CE or CPD credit but it will be your responsibility as a student to verify this with your regulator.
About ITC courses
ITC takes pride in delivering high quality, unbiased courses on professional and management liability insurance and related topics. Designed specifically for online delivery, our courses are interactive, include activities and quizzes, use practical illustrations and real-life case studies and deliver knowledge in bite-sized portions so even just 5 minutes is learning time well spent.
How we build courses
ITC courses are the product of a collaborative approach. We work closely with subject matter experts to build out course content, the ITC design team brings that content to life, and no course is published before undergoing an intense review by an industry panel. Our process also includes post-publication reviews and updates because ITC is committed to delivering quality courses that remain accurate, relevant and up-to-date, long after they are first published.
Ransomware and Insurance
