Prof. Yaqoub Al-Refaei, Director General of Kuwait Institute of Banking Studies (KIBS), announced the launch of the training program “Cybersecurity Liability Insurance”, held in collaboration with the Kuwait Insurance Federation from December 15 to 19, 2019.
The program was attended by a distinguished group of professionals from insurance companies, including:
This program is part of a series of training initiatives organized by KIBS to support the vital and important insurance sector in the State of Kuwait.
The objective of the program was to familiarize participants with the full spectrum of risks companies may face due to cyber breaches, as well as the third-party liabilities that may arise. It also covered the damages, expenses, and additional costs that may be incurred by the insured client as the first party to the insurance contract.
The program included a comprehensive explanation of the insurance coverage, the underwriting process for this type of insurance, specific policy terms, exclusions, and how to handle incidents related to cybersecurity liability.
It is worth noting that KIBS offers a wide range of specialized training programs in the field of insurance, based on the sector’s specific training needs. These programs are developed in coordination with the Kuwait Insurance Federation and in collaboration with accredited external institutions such as:
These collaborations aim to provide professional, accredited training for all employees in the insurance sector and to help enhance and develop the capabilities of participants, contributing to the growth and advancement of their organizations.
KIBS continues to offer innovative and essential training programs for professionals across various sectors, supporting workforce development and boosting productivity across the national economy.
