Cyber extortion is growing. Risk Management professionals are dealing with the issues of unintentional disclosure of data, damaged and stolen data, data restoration, and malicious breaches. We are also witnessing more unauthorized data collections of intellectual property which cause significant losses that are typically not covered under cyber policies. In addition, we are aware that devices are constantly fighting phishing, spoofing, farming, and smishing attempts. We also must account for vendor errors as well as the technology errors and omissions claims that come with them. Not to mention losses caused by business interruption, extra expenses, and expediting expense exposures. As the world of cloud computing continues to explode and data remains at risk, what are we to do in response to these evolving exposures? On this episode of Nat Alliance NOW, Jay Williams, CIC, CRM, CRIS, MLIS, AIP, AAI, ACSR, interviews Paul W. Burkett, J.D., CPCU, CIC, CRM, ARM, ALCM, on what types of cyber losses are trending upward and how they create opportunities for industry professionals to inform their customers about the importance of having cyber coverage.
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About our Guest: Paul Burkett, J.D., CIC, CRM, CPCU, ARM, ALCM
Paul Burkett is the President and CEO of Snoaspen Insurance Group, Inc., which specializes in risk management consulting, insurance teaching, and expert witness services for insurance bad faith and agents' errors and omission cases.
Paul began his career as a Loss Control Representative for SAFECO Insurance Company after serving as an Officer in the United States Air Force. During his career with SAFECO, Paul served as a Loss Control Supervisor, Loss Control Manager, Commercial Sales Representative, Division Commercial Lines Underwriting Manager, and Regional Workers Compensation Manager. From SAFECO, Paul worked for Frank B. Hall & Company as a Vice President in charge of Risk Management Services. Paul was responsible for design and implementation of alternative insurance programs such as pools, self-insurance programs, and captives. From Frank B. Hall, Paul assisted in establishing the Meadowbrook of Colorado office and focused on developing specialized group programs. Paul assisted in establishing TUITIONGard, LTD., which specialized in coverages for private student loans provided through banks in the United States. This agency operation was purchased by an insurance company and related field operations have phased out over the last few years.
Paul has a Juris Doctorate from Concord School of Law, an undergraduate degree from the University of Minnesota and has completed graduate work at the University of Oklahoma in Public Administration. Paul has obtained the following designations: Certified Risk Manager (CRM), Certified Insurance Counselor (CIC), Associate in Risk Management (ARM), Associate in Loss Control Management (ALCM), and Chartered Property and Casualty Underwriter (CPCU). Paul is a National Faculty member of The National Alliance and has served on the Board of Governors of the Society of Certified Insurance Counselors.