Learn Cyber Insurance Basics
in Less than 3 Hours
Better Educate Your Clients.
Grow Your Cyber Insurance Line.
Protect Your E & O.
Insurance's Fastest Growing Market...
Disaster is Only a Few Clicks Away…
Technology is amazing. It moves at lightning speed and has changed the way we do business and our everyday lives. However, for many of us, its complex and complicated, and much like the cars we drive we have no idea how to fix things when they go wrong! Because we’ve connected everything of value via the internet it’s vulnerable in ways we never imagined in the past. For example, let’s take a look at bank accounts. Bank accounts hold our funds, they’re secure, and if the bank is robbed and your money is stolen the Banks have to reimburse you. However, what if someone steals your password and drains your account? Well first, the bank is not going to reimburse you. It’s not their fault. They may have some security and fraud detection, and may intervene if your banking activity looks unusual. But if those don’t work and your corporate account is robbed, you cannot fault the bank, and your money is gone forever. Situations like this could never have happened before online banking. These days we protect everything with passwords because we all know passwords are secure, right?
Why Cyber Insurance?
Virtually every organization faces a cyber risk peril if they use the internet in any facet of their business, and who doesn’t? All organizations have Personally Identifiable Information (PII), it’s stored on networks or online. Privacy statutes apply to every business or enterprise. There is an obvious need for Cyber Insurance as no other insurances apply. Yet many agencies struggle to effectively sell cyber insurance, grow this policy line, and increase their sales in this booming market.
What does Cyber Insurance Cover?
Cyber insurances can indemnify any stated insurable peril. However, because there are no standard cyber policy forms, no recognized adjudicated cyber definitions, no ISO standards to rely on, it can be difficult to grasp. It is crucial for Agents to understand the scope of cyber perils and remedies generally available in the marketplace.
Aren’t Cyber Losses Covered by Other Insurances?
The short answer is they were never intended to cover the risks of digital perils, nor the requirements of modern privacy statutes. Cyber insurance developed first in response to liability concerns growing from the .com era. Organizations realized technology was presenting liabilities they’d never seen with analog processes they had replaced and so began the blame game of determining who would pay for unintended consequences. Cyber Liability Insurance was born.
Cyber Insurance in the News
- “55 percent of respondents experienced a data breach in 2013 and 53 percent of those experienced more than one breach in the same year.” – Entrepreneur Magazine
- “Cyber risk is a growing source of concern, given the increasing frequency of reported incidents,” Insurance Journal
- “Nearly 70 percent (69.4 percent) of respondents from large and medium-sized corporations across the UK do not assess the suppliers and/or customers they trade with for cyber risk.” – Marsh Cyber Insurance Risk Report
- “Nearly 75 percent of all respondents lack the maturity to address cyber security risks.” – Business Standard
- “Just 18% of 100 companies surveyed said that they had a complete understanding of their cyber exposure.” – Business Insurance
- “2014 was not really an outlier, 2013 was also a bumper year for cyber attacks. It is a pretty good bet that 2015 will be too.” – Forbes
- “The biggest challenge in selling cyber insurance is educating businesses about the need for cyber coverage, according to a new survey.” – Insurance Journal
- “Almost 70% of U.S. businesses experienced at least one hacking incident in the last year, but more than half of risk managers believe their company is not doing enough to combat cyber threats, according to a new survey.” – CFO Magazine
What is Cyber Insurance Training?
Cyber perils already dominate business risk news stories, yet many organizations have limited cyber risk management, and little or no cyber loss insurance. The need is clear and insurance professionals must be ready to solve their client’s concerns.
Cyber Insurance Training was specifically designed for insurance professionals to help them better educate prospective customers, improve protection for their current clients, and take advantage of this quickly growing market.
The Cyber Insurance Training Course provides Certification that an Agent has studied fundamental IT perils, cyber coverages, and risk management. Technology’s continuing evolution challenges every insurance professional to adopt a continuous learning process about IT risks. Insurance professionals should prepare through study and experience, and share their knowledge to help clients protect their assets.
The cyRM Course distills essential cyber risk information and guides Agents, regardless of their overall insurance experience, in steps to establish their authority as informed and educated about Cyber Risk Management and Insurance.
What does the Course Include?
- 100% Online – No textbooks, study guides, or extra purchases necessary.
A Certification test ensures Graduates have acquired knowledge, and are prepared for speaking with clients about the basics of cyber insurance.
- 100% Money-back Guarantee
Quizzes at the end of each section reinforce study material knowledge
Certificate designation – cyRM – Cyber Risk Manager
Video tutorials supplement written course materials
Graduation resources include further education, cyber risk analytical tools, marketing & sales materials, insurance programs
Exclusive access to the cyRM LinkedIn Group – Cyber Insurance experts share tips, connections, to help further your knowledge
Forum access to continue building knowledge and expertise within the Cyber Insurance community
Direct email access to networked cyber insurance experts
Tips, cyber blogs, updated resources to help agencies with their marketing and cyber risk insurance practice
Who Created This Course
The Cyber Insurance and Risk Management course was developed by Associated Risk Managers Ohio. Associated Risk Managers is a group of approximately 200 agencies in the U.S. generating $5 billion dollars of insurance premiums through its network of independent agencies.
Cyber Insurance and Risk Management was designed by ARM principally for licensed insurance agents. The purpose is to address fast developing cyber risk perils that affect virtually every commercial insurance customer. With training Agents learn to address this crucial business risk, and then effectively integrate cyber insurance to their customer services.
The cyRM Course will jump-start learning for Insurance Agents on evolving IT perils. Experts say cyber risks will come to dominate business risk perils; this program is a step towards a learning process that must continue for the balance of your insurance career. Our mission is to equip every Agent with knowledge and skills to present cyber insurance to every commercial insured, today.
What Students are Saying
How much time will it take?
The cyRM course and final test can be completed in under 2 hours, but there are no time limits on the study materials. Students may pause and return at will. However, we recommend completing the course within 30 days of creating an account.
What testing is involved?
There are three short quizzes of 2 to 4 questions each during the study; you must complete the quizzes to move forward with the study materials. The final test for cyRM certification is 25 – 40 randomized multiple-choice questions; it is timed for up to 45 minutes. Students have three attempts at each quiz and the final test.
What if I have questions about the material?
For technical questions about the Teachable Platform, email our Admin Here
For questions about the Course content, email the Cyber Professor Here
What will I learn in this course?
The scope of the Course addresses insurable perils associated with information technology (IT), commonly known as cyber risks, and the range of responses available in the insurance marketplace today.
How long does certification last?
The Certification is valid for 2 years. Graduates may extend their credential after two years by completing the Refresher Course study materials and cyRM recertification test.
Contact us Here for further details.
Is the course effective?
All agents who have achieved the cyRM designation and completing study of post graduation materials report improved customer relations and increased insurance sales.
What is the price?
The cyRM Study & Certification Course is just $149 for individuals.
For groups of 10 or more, contact us Here.
What are accepted payments?
Payments are accepted from Visa, Mastercard, and American Express.
Does the course count towards State Continuing Education credits?
The cyRM Course will be available with State Continuing Education credits via The Agents & Brokers Education Network, later this year. Check back for updates, or contact ABEN to be notified for when the course is available in your state.
What if I am not satisfied with the course?
We take every care to ensure the Teachable platform is working 24/7 with online support. If you experience any difficulties that are not resolved to your satisfaction, we will reimburse the course fee. If after the final test you are dissatisfied with the course materials, information, or testing, please email us your concerns requesting a return of your paid course fee. Please note, returns may take up to 30 days to process.
Are there any other resources I can explore?
Yes! After earning a cyRM certificate, graduates are provided with a series of resources to help study, identify, measure and stay informed about cyber risk perils. We also provide access to a range of services to help independent insurance agents succeed with their cyber risk insurance practices.