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Cyber Risk Investigation

The IFoA’s Cyber Risk Investigation Working Party has been shortlisted in the category of “Campaign of the year” (2020) by Insurance Insider Honours, the global (re)insurance awards ceremony that recognises market talent. This is a working party aimed at providing insight for actuaries working on realistic capital calculations and enterprise risk management for life insurers and general insurers.

The scope of "Phase 1" (completed):

The purpose of the research was to provide insight to actuaries working on capital requirements for insurers setting out the potential impact of cyber risk events and the measures available to mitigate this risk. The aim was to create a greater awareness of the risks for insurers, and highlight emerging issues in an area that is changing rapidly as the dependency on computer systems to support insurer’s business increases.

  • What is cyber risk?
  • The types of risk
  • The cost of a cyber risk breach
  • Risk mitigation strategies

Outputs:

The scope of "Phase 2" (in progress):

  1. Construct a framework for companies to use to identify and manage Non Affirmative Cyber risk
  2. Survey to inform future direction
  3. Cyber Symposium
  4. Social Media drive

 

Chair: Visesh Gosrani
Membership: 16
Established: 2015

Related documents

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Start date
E.g., 27/09/2021
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Events calendar

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