The LMA Cyber Claims Committee would like to invite you to the ‘Paying cyber ransoms safely’ webinar hosted by top cyber experts Theodore Kobus, Partner at BakerHostetler and Marc Bleicher, Managing Director from cyber forensics firm Arete.

AUDIENCE

Underwriters with an interest in cyber and kidnap & ransom business, claims practitioners and brokers.

DESCRIPTION

The LMA Cyber Claims Committee would like to invite you to the ‘Paying cyber ransoms safely’ webinar hosted by BakerHostetler on Wednesday 04 November 2020.

In October 2020, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) provided an Advisory on potential sanctions for facilitating ransomware payments. Cyber and K&R insurers are routinely paying such ransoms. How might the OFAC Advisory impact how insurers facilitate payment on behalf of their clients, and is there a broader, international lesson to be learned?

Top cyber experts Theodore Kobus, Partner, BakerHostetler and Marc Bleicher, Managing Director from cyber forensics firm Arete will discuss:

• the market conditions which led to OFAC’s concerns with ransomware
• what the OFAC Advisory says and how it impacts insurers’ ransomware payments
• the steps the service providers which negotiate and make ransomware payments are taking to ensure compliance
• how the OFAC Advisory could shape the facilitation of ransomware payments outside of the US.