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Privacy and Insurance: How Is Personal Information Being Protected and Who Pays the Price?

Privacy and Insurance: How Is Personal Information Being Protected and Who Pays the Price?. Privacy & Insurance Panel Members. MODERATOR : Bradley S. Gow, Vice President Ace USA Thomas Duym, Risk Manager Automatic Data Processing Mark Greisinger, President Net Diligence

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Privacy and Insurance: How Is Personal Information Being Protected and Who Pays the Price?

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  1. Privacy and Insurance:How Is Personal Information Being Protected and Who Pays the Price? Washington, D.C. ~ November 7-9, 2007

  2. Privacy & InsurancePanel Members • MODERATOR: Bradley S. Gow, Vice President Ace USA • Thomas Duym, Risk Manager Automatic Data Processing • Mark Greisinger, President Net Diligence • Robert Hammesfahr, Global Head of Reinsurance Claims Swiss Re • Sherrie Savett, Shareholder Berger & Montague, P.C.

  3. Overview New Regulations: corporate cost shifting vs. identity theft Legal Developments: damages theories gaining traction? Risk Management: organizational initiatives vs. IT focus What’s Next: TJX, federal breach regulation, liability theories

  4. Key Takeaways • Recent high profile breaches have changed the game (TJX) • ‘Cost shifting’ legislation is now in the pipeline • New theories of liability are gaining traction in the courts • Companies have consistent weaknesses in managing data • Risk management needed to handle the many different aspects on this exposure • Will the liability for breaches ultimately attach to the retailers and others that actually lose the data?

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