[cabfpub] Ballot 121 (insurance)

Thu Jul 10 06:29:21 UTC 2014

I personally, between both, prefer the first one. Including rating agencies like Standard&Poors, Fitch, etc. it´s worse than the A rating. I had no problems to find an insurer with that qualification in Spain (in fact I´ve changed 3 times my insurance company from Lloyd´s to Chubb and now to CFC underwriting)

Iñigo Barreira
Responsable del Área técnica
i-barreira at izenpe.net

945067705

ERNE! Baliteke mezu honen zatiren bat edo mezu osoa legez babestuta egotea. Mezua badu bere hartzailea. Okerreko helbidera heldu bada (helbidea gaizki idatzi, transmisioak huts egin) eman abisu igorleari, korreo honi erantzuna. KONTUZ!
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De: public-bounces at cabforum.org [mailto:public-bounces at cabforum.org] En nombre de Ben Wilson
Enviado el: miércoles, 09 de julio de 2014 20:39
Para: arno.fiedler at nimbus-berlin.com; public at cabforum.org
Asunto: Re: [cabfpub] Ballot 121 (insurance)

Arno,

What if it said, "MUST be an insurer rated with a financial strength indicating an excellent ability to meet its ongoing insurance obligations by Standard & Poor's, A.M. Best, Fitch, Moody's, DBRS, Japan Credit Rating Agency, Creditreform, Scope Ratings, or a similarly recognized rating agency"?

Cheers,

Ben

From: public-bounces at cabforum.org [mailto:public-bounces at cabforum.org] On Behalf Of Ben Wilson
Sent: Wednesday, July 9, 2014 10:15 AM
To: arno.fiedler at nimbus-berlin.com; public at cabforum.org
Subject: Re: [cabfpub] Ballot 121 (insurance)

Thanks, Arno.  I'll revise and resubmit.

From: public-bounces at cabforum.org [mailto:public-bounces at cabforum.org] On Behalf Of Arno Fiedler
Sent: Wednesday, July 9, 2014 6:05 AM
To: public at cabforum.org
Subject: Re: [cabfpub] Ballot 121 (insurance)

Hello,
it sounds very US-centric and very detailed, "MUST be with a company rated no less than A- as to Policy Holder's Rating in the current edition of Best's Insurance Guide" seems to be not applicable for "Rest of World." 
Best regards
arno

Am 08.07.2014 17:04, schrieb Ben Wilson:

	All,

	Based on feedback received so far from several international cyber insurance experts, here is a current iteration for revisions to Section 8.4 of the EV Guidelines (redlined PDF attached).  

	This is only for the EV Guidelines and would apply to CAs desiring to issue Extended Validation Certificates. 

	This wording may be further refined based upon your input to Jeremy's question and as any other information from insurance experts comes in.  

	Please check with your insurance brokers to confirm that you either already have these coverages or that these can be obtained by your company at reasonable cost.

	Thanks,

	Ben

	8.4.Insurance 

	Effective _______, each CA SHALL continuously maintain the following insurance related to its performance and obligations under these Guidelines:

	(A) insurance covering damages to systems, data, or software and for business interruptions due to natural disaster, fire, IT security failure, malware, cyber attack / criminal hacker, or theft, in the amount of at least two million US dollars ($2 million) in coverage; and 

	(B) Technology Errors and Omissions insurance, with policy limits of at least five million US dollars ($5,000,000 per claim and in the aggregate) covering financial damages to third parties arising out of a negligent act, error, or omission in the performance of technology services under these Guidelines with coverage to be kept in place for all periods during which an EV Certificate issued by the CA is still valid. If coverage is non-renewed or canceled, the CA shall purchase extended reporting period coverage for at least a two-year period. Territory of coverage shall be global, except for countries sanctioned by the United States or the European Union. 

	Such insurance must not exclude coverage when providing public key infrastructure services and MUST be with a company rated no less than A- as to Policy Holder's Rating in the current edition of Best's Insurance Guide (or with an association of companies each of the members of which are so rated). 

	A CA MAY self-insure for liabilities that arise from such party's performance and obligations under these Guidelines provided that it has at least five hundred million US dollars in liquid assets based on audited financial statements in the past twelve months, and a quick ratio (ratio of liquid assets to current liabilities) of not less than 1.0. 

-- 
Arno Fiedler
Nimbus Technologieberatung GmbH
Reichensteiner Weg 17
14195 Berlin
Mobil:      0049-(0)172-3053272
Fax:        0049-(0)30-89745-777
E-Mail:     arno.fiedler at nimbus-berlin.com
Web:        www.nimbus-berlin.com
Geschäftsführer:  Arno Fiedler
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HandelsregisterNr:HRB 109409 B
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