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How to protect SMEs from Cyber Attacks

Thursday 16 May 2019 09:00 - 14:00

Spaces available

The aim of this interdisciplinary symposium is to gain understanding and awareness of UK private SMEs about their insurance need as a part of cyber risk management and mitigation strategies.

This event is a half day seminar.

09.00-09.30  Registration
09.30-09.45 Chair’s Welcome
09.45-10.15 Sources of Cyber Risk for SMEs and need of insurance solutions - Part 1 (Speaker to be confirmed)
10.15-10.45 Sources of Cyber Risk for SMEs and need of insurance solutions - Part 2 (Speaker to be confirmed)
10.45-11.05 Coffee

Insurer’s view of cyber risk - unlocking the potential

The cyber insurance market is growing rapidly yet remains woefully below its full potential, despite ever increasing risk due the continued digital transformation of our society and economy.  This session will provide perspectives from a leading player in the global cyber insurance space about the key challenges to providing more widespread protection against cyber risk, and how they can be overcome.

Rory Egan, Chair IFoA Cyber Risk Working Party


Cybersecurity, Hacking and Technology – an illustration of Cyber Risk Model

Cybercrime has emerged as one of the top risks in both financial and non-financial sectors. The majority of resent studies on identifying the causes of cyber risks developing solutions. However, the phenomena by capturing the interplay between the hackers and the victims still remains under researched. This is important because the timeframe for planning for both attacking and defending from hackers and victims respectively are significant. Understanding the interplay between the attackers and defenders will provide intelligence to the defenders on the motives of the hackers. Using the propositions of the game theory this study analyses the criminal motivations and operational strategy hackers and proposes a model from the perspective of behavioural economics. The findings of the study may help the insurers to develop cyber risk products as well as effective contingency strategies to mitigate loss espousers.

Dr John Houston and Dr Madhu Acharyya, Glasgow Caledonian University


Leveraging Data and Machine Learning Techniques in Modelling SME Cyber Risk”

A discussion using 3rd party data in cyber modelling and the unique challenges faced by SMEs in evaluating their cyber exposure. This talk will present a view on the use of AIR's Industry Exposure Database, machine learning, and claims data to overcome some of these challenges.

Bethany Vohlers, AIR Worldwide Limited [Verisk]

12.35-13.15 Panel Discussion
13.15-14.00 Lunch




Staple Inn Hall, High Holborn, London, WC1V 7QJ.


Nearest Public Transport

Chancery Lane Station.

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