The content, agenda & speakers for each Advisen Insights Conference is planned by an Advisory Board that represents industry thought-leaders and influential marketplace participants. Each Advisory Board is unique for each conference event.
Advisory Board meetings and conference calls are led by Advisen’s Stacie Lilien, Event Content & Programming Manager.
• Ben Beeson, Head of Insurance, Arceo.ai • Oliver Brew, Head of Client Services, CyberCube • Nigel Brook, Partner, Clyde & Co LLP • James Burns, Cyber Product Leader, CFC Underwriting • Oliver Delvos, Global Cyber Underwriting Manager, Commercial Insurance, Zurich • Rory Egan, Senior Cyber Actuary, Munich Re • Shannan Fort,Cyber Product Development Leader, Global Broking Centre, Aon • Xavier Marguinaud, Underwriting Manager, Cyber, Financial Lines, Tokio Marine HCC • Siobhan O'Brien, Head of Cyber Centre of Excellence for International and Global Specialties, Guy Carpenter [2020 Conference Chair] • Adri Purkaystha, Head of Technology and Cyber Risk Analytics, BNP Paribas • Elizabeth Queen, Vice President Risk Management, Wolters Kluwer • Valerie Serrani, Global Insurance Manager, Risk Management Department, Bunge • Shay Simkin, Group Global Head of Cyber, Howden • Jacqueline Spencer-Sim, Divisional Head of Cyber, Hamilton Group • Sarah Stephens, Head of Cyber, International, Marsh JLT Specialty • Glyn Thoms, Executive Director Cyber & TMT, Willis Towers Watson • Henri Winand, CEO & Co-Founder, AkinovA |
Cyber insurance is now a major line of insurance that arguably is needed by every business. It is also a comparatively new line of insurance and many of the people involved in its creation are still active in the market. This session assembles some of the leading cyber insurance pioneers to share their memories and insights into the birth and growth of cyber insurance and the cyber insurance market. They also will offer their opinions on the future of cyber risk and insurance.
Track 1: Cyber Risk Management & Insurance | Track 2: A Global Perspective on Cyber Risk and Insurance | Discussion Track |
10:50 – 11:35 Looking Ahead: How Does The Next Generation View Cyber? Following on the heels of the Legends of Cyber discussion comes the perspective of the new generation of cyber risk and insurance professionals. How do they envision the threat landscape they will confront over the course of their careers? How can the industry ensure that cyber insurance continues to be relevant?
11:35 – 12:20 Winning the Battle over the War Exclusion The war exclusion in cyber insurance policies has come under attack as being impractical to administer and potentially unfair to policyholders. Without a war exclusion, however, insurers and reinsurers are exposed to ruinous aggregations of losses. Panelists will explain the potential consequences of weakening or eliminating the war exclusion, discuss marketplace solutions being employed, and examine alternatives such as public/private partnerships to insure cyber warfare risks.
| 10:50 – 11:35 Bringing the Board Up to Speed on Cyber Risk and Insurance Cyber risk is now a board-level topic in many organizations. Increasingly, directors are involved in cyber insurance decisions. This session will look at the accountability of directors for cyber security from a worldwide perspective, with an emphasis on what risk managers need to communicate to board members. It also will examine how cyber insurance professionals can assist in educating corporate directors and officers on their responsibilities and potential liabilities, and how insurance can help mitigate risk.
11:35 – 12:20 The Cybercriminal and the City Cybercriminals increasingly target municipalities and other public entities. High-profile attacks include Atlanta and Baltimore in the United States and Johannesburg in South Africa, but the list of targets reads like a travelogue. Why the sudden interest in cities and towns from criminals? What are the implications for businesses and individuals in cities under attack? What is the role of insurance? Our panel of experts will tackle these and other questions.
| 10:50 – 11:35 How do you Determine Appropriate Limits? How do you determine adequate Cyber limits? How does Cyber loss frequency & severity impact appropriate limits? Our speaker will lead a discussion to address issues related to choosing Cyber limits, and we’ll also refer to Advisen’s Cyber OverVue v2.0 to add a data perspective.
11:35 – 12:20 Breach Impacts – How to Estimate Costs More Accurately Cyentia Institute’s David Severski will clear the fog of FUD (fear, uncertainty, and doubt) surrounding cyber risk, the likelihood of a significant $10M+ loss event, and areas where current costs per record methodologies are potentially harmful. Independent research firm, Cyentia, released today their 2020 Information Risk Insights Study “The IRIS 20/20” which offers a clearer vision for assessing the risk of cyber incidents. Download this free 32-page paper via https://www.cyentia.com/iris/
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Track 1: Cyber Risk Management & Insurance | Track 2 - A Global Perspective on Cyber Risk and Insurance | Discussion Track |
13:20 – 14:10 Read All About it: The Impact of Cyber “Fake News” “Fake news” is a hot topic in politics, but the cyber insurance industry also faces inaccurate press. How does erroneous reporting on cyber insurance issues damage the image of the industry? Do misconceptions circulated by the media affect cyber insurance buying decisions? Does sensational reporting on cyber events translate to reputational harm for breached organizations? This session will tackle these issues from the perspectives of both the cyber insurance sector and the press.
14:10 – 15:00 The Wide World of Cyber Risk Models Cyber risk models help insurers underwrite and price individual risks, and they aid in quantifying risk aggregations and exposure to catastrophic losses. This session will look at the latest cyber risk models to identify their strengths and weaknesses, and assess how their value may vary by region. It also will look at how regulators and rating agencies may use these models, and what value they can bring to risk managers, CISOs and others charged with protecting their organizations.
15:00 – 15:10 Shop Talk: Breach notification and identity theft protection in a time where breaches have become so common place
| 13:20 – 14:10 How Does One Insure Cyber Risk In a ‘Not If But When’ World? Cybercrime, data breaches, and supply chain disruptions are on the rise. Global markets have been hit by higher than expected claims around the world. Consequently, markets are becoming more selective and are adjusting price, capacity and sometimes retentions to more healthily sustain their balance sheets. What is driving these market shifts and how can businesses best prepare, especially in parts of the world that have been slower to embrace cyber insurance?
14:10 – 15:00 Learning from the Losses: Today’s Cyber Claims Landscape The cyber claims landscape is constantly shifting as criminals change their targets and tactics to maximize their return on investment. What are the trends? Do they vary by region or industry group? How are insurers responding? What are the implications for insurance buyers? This session will present a global perspective on cyber insurance claims with an emphasis on what risk managers can do to assure that they have the right coverage.
15:00 – 15:10 Shop Talk: ILS 2.0, the cyber opportunity
| 13:20 – 14:10 How Can Cyber Adoption Be Increased? “Cyber Ranks as Top Peril for Companies Globally for 1st Time,” according to an Allianz January 2020 report. If that’s true, why don’t more businesses buy Cyber? Some Top 10 brokerages have shared that the portion of clients who have Cyber protection is in the single digits. Why? What factors are driving this gap, and what moves do brokers have? Our speakers will lead a discussion about growing Cyber adoption, and we’ll also refer to Advisen’s Cyber OverVue v2.0 to add a data perspective.
14:10 – 15:00 Demystifying Cyber Loss Data My Board wants to know what other Cyber Loss events have happened to companies like ours. My client needs comparable loss information to select appropriate limits. If I underwrite this account, what Cyber potholes am I potentially stepping into? Our speakers will lead a discussion about what types of Cyber Loss data are available, how these data sets get used, and what spin-off Cyber products can result.
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Silent cyber is a problem for both insurers and policyholders. Insurers may be required to pay losses under policies never intended to cover cyber exposures. Policyholders may be unsure where to look for coverage from a cyber event and may end up with coverage gaps when insurers attempt to limit their exposures. This session will examine silent cyber issues for both insurers and buyers, with a focus on the Lloyd’s mandate that all policies clearly state whether they provide coverage for cyber events.
In 2017, the NotPetya cyberattack brought businesses around the world to a halt. Join the former chief information security officer of one of those businesses to hear first-hand what it feels like when a cyber weapon strikes, how to rebound from the many serious impacts of such event, and how organisations should be preparing for an uncertain cyber future.