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Tuesday 18 April 2017 09:00 - 13:00

This seminar will address a number of important cyber risk issues that face insurers in a rapidly evolving field.

The seminar will consider why insurers are exposed to cyber risk and the type of cyber events that can occur, as well as looking at insurers already impacted by cyber risks. We will consider the insurers’ capital modelling implications and look into risk mitigation actions, including cyber insurance products. This seminar is aimed at risk and capital management actuaries, as well as actuaries that are interested in the emerging work of cyber risk and cyber fraud, and the role actuaries can play in modelling and protecting against this risk.

Event organiser

Contact Events Team for more information.

eventmanagement@actuaries.org.uk

0207 632 1498

Programme         

09.00 - 09.30 Registration and refreshments
09.30 - 09.40 Chair’s welcome and introduction
                      Chair: Kirsty Leece, Willis Towers Watson
09.40 - 10.20 Session 1: Cyber risks facing insurers
This session will cover the ever developing world of cyber risk. We will look at the characteristics of cyber fraud, how it is evolving and how we can understand and assess our exposure to it. Specific consideration will be given to the risks to insurers and pension providers, who have a large exposure to cyber crime, due to the way they sell and manage their businesses. This will be provided by an experienced market practitioner in cyber risk. 
Speakers: Dani Katz,Optalitix and Ryan Rubin,Protivity
10.20 - 10.45      Refreshments
10.45 - 11.25 Session 2: Cyber risk for insurers – catastrophic impact or manageable operational risk?
This session will consider the danger to insurers of doing nothing at all to protect against cyber risks and cyber fraud. We will look at what the capital insurers would need to hold to cover this risk and consider how this can be assessed and measured using actual cyber risk data. 
Speaker: Ramiz Mohamed, XL Catlin
11.25 - 12.05 Session 3: How can we best use insurance policies - Panel Discussion
The final session is a panel discussion, whereby two industry specialists discuss the choices around buying cyber policies. We will delve into the benefits of cyber risk policies and how these can be used effectively by companies. We will discuss how companies can assess the value of these (pricing these and buying them), and how this should be considered against the cost of capital discussed in session 2.
Chaired by Dani Katz
Speakers: Rory Egan, Munich Re and Ramiz Mohamed, XL Catlin
12.05 - 13.00 Lunch and close 

 

Location

Address

Staple Inn Hall

High Holborn

London

WC1V 7QJ

Nearest Public Transport

Chancery Lane Tube