2016

Breakfast & Registration

Opening Remarks

Remarks from our 2016 Conference Chair

• Matthew Hogg, Underwriting Manager, Strategic Assets, Liberty Specialty Markets

Keynote Address

• Sir Tim McClement KCB, OBE, Chairman, PGI Ltd

What will the future of cyber risk look like?

The globalization of value chains, increased financial integration, rapid urbanization, and the Internet’s ubiquity have all accelerated worldwide economic growth over the past few decades. Unfortunately, these same developments have also significantly increased our vulnerability to external shocks and global crises. With risks mounting and traditional systems of control weakening, now is the time to ask: do the risks of being connected outweigh the benefits to global economic growth?

• John Scott, Chief Risk Officer, Zurich Global Corporate, Zurich Insurance Group

The Risk Manager’s Perspective

How do businesses quantify and qualify their cyber threats? Before businesses can deploy capital to addressing risks, they first need to know what they are and how they can affect operations. This session will look into how risk managers assess their risks and outline some best practices.

• Sarah Stephens, Partner – Head of Cyber, Technology, and Media E&O, JLT Specialty (Moderator)
• Philippe Cotelle, Head of Insurance and Risk Management, Airbus Defence and Space
• Julia Graham, Technical Director, Airmic

Morning Break

Track 1 

Track 2

1100 – 1130 / Real Claims Trends

Does the reality of cyber loss experience match the topics discussed at most conferences? Much time is spent discussing data breach, but is that what is keeping underwriters up at night? This session will outline where the actual claims are coming from – intellectual property theft, E&O, media liability, etc. Is the loss trend shifting? How is it affecting carrier pricing models and driving pricing and underwriting controls?

• Jim Blinn, EVP & Global Product Manager, Advisen

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1130 – 1230 / The Forensic Dissection of a Claim

You only really find out what you’ve bought when you have a claim. This session will use case studies to assess how a cyber claim works in reality. What is the role of the traditional loss adjuster? How do buyers access the services available under a policy? Which services offer the most effective application of the policy limit?

• Erica Constance, Senior Vice President, Paragon Brokers (Moderator)
• Hans Allnutt, Partner, DAC Beachcroft LLP
• James Berry, Senior Claims Adjuster, Brit Global Cyber Privacy & Technology
• Sandra Cole, UK & International Breach Response Manager and Claims Manager, Beazley Group
• Neil Hare-Brown, CEO, STORM Guidance
• Kari A. Timm, Partner, BatesCarey LLP

1100 – 1230 / Harnessing the Numbers

Is it possible to quantify the threat of cyber risks to a business? With Lloyd’s driving the quantification of cyber risk, this is becoming a business imperative in the London market. This session will look at the factors that contribute to the cost of a cyber loss and various initiatives to model cyber risk, including how to quantify and manage systemic risk and aggregations of exposures.

• Nick Beecroft, Manager, Emerging Risks & Research, Lloyd’s (Moderator)
• Neil Arklie, Senior Product Manager for Cyber and Technology, Swiss Re
• Daljitt Barn, Head of Cyber, Munich Re
• Stephen Boyer, CTO & Co-Founder, BitSight
• Alastair Mole, Executive Director Non-Marine Specialty, Willis Re
• Scott Stransky, Manager, Principal Scientist, AIR

Conference Luncheon

Track 1

Track 2

1330 – 1500 / Debates

Is cyber accurately priced? (30 mins): How is cyber priced in a changing market? Is it adequate? This session will draw perspectives from different carriers in the US primary, excess, London and Bermuda markets. The panel will outline how they price cyber risk and address the thorny issue of adequacy.

• Dan Trueman, Head of Cyber, Novae
• William Wright, SVP, Paragon Brokers

Should property market cover physical damage? (30 mins): These two speakers will discuss whether a property policy should cover cyber losses. They will explore some of the grey areas in current policies, if/how BI and CBI losses are addressed and how to avoid gaps for cyber-related physical damage losses.

• Rebecca Bole, EVP, Editor-in-Chief, Advisen (Moderator)
• Matthew Hogg, Underwriting Manager, Strategic Assets, Liberty Specialty Markets
• Russell Kennedy, Divisional Director – Property, Political Violence and Political Risks, Brit Insurance
• Ben Nicholls, Executive Producer, MGA & Programme Solutions, Aon Benfield
• Andreas Schlayer, Senior Underwriter Cyber Solutions, Munich Re

Should cyber terrorism be shouldered by the insurance market? (30 mins): Is there a need for a government backstop?

• Simon Milner, Broker/Producer, Miller Insurance
• Max Perkins, Senior Vice President, Lockton Companies LLP

1330 – 1415 / A Big Year for Regulation

How does the landscape look for data liabilities in 2016? NIS, GDPR, and the Parliamentary Inquiry on Talk Talk will all change the liabilities of businesses with regard to data management. This session will outline some of the major changes and look at their implications.

• Cinthia Motley, Partner, Sedgwick LLP (Moderator)
• Raluca Boroianu-Omura, Manager, Conduct Regulation, Association of British Insurers (ABI)
• Michael Bruemmer, Vice President, Data Breach Resolution Group, Experian
• Laurent Heslault, Chief Security Strategist, Symantec
• Bridget Treacy, Partner, Hunton & Williams LLP

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1415 – 1500 / Data Liabilities and Insurance

Taking the new data liability landscape, where should these exposures fit into insurance products? Should standalone cyber cover these risks, or should they sit within existing policies? If the latter, how can cyber insurance experts assist in quantifying and rating those exposures?

• Andrew Hill, Senior Associate, Hill Dickinson LLP (Moderator)
• Mark Camillo, Head of Professional Indemnity & Cyber, EMEA, AIG
• Ben Maidment, Class Underwriter – Global Cyber, Privacy & Technology, Brit Global Specialty
• James Tuplin, TMT Portfolio Manager, Financial & Specialty Markets, QBE

Afternoon Break

Is the Cyber Market Fit for Purpose?

Is the Cyber market fit for purpose? Is there a disconnect between boardroom perceptions of the adequacy of insurance cover for cyber risks and the reality? This session looks at the risks businesses are seeking to transfer to insurance and discusses the practicalities of a full response from the insurance market.
Panelists will also discuss where cyber cover could lie in existing policies and whether policy wordings are keeping up with the pace of change in exposures, such as operational risk. the skills available in the insurance sector to adequately assess and price risk and the importance of building relationships between insurance and business to ensure the market is fit for purpose.

• Stephen Wares, Cyber Risk Practice Leader – EMEA, Marsh (Moderator)
• Graeme Newman, Director, CFC
• Michael Schmitt, Vice President, Senior Underwriter Cyber & Technology, Swiss Re Corporate Solutions
• Tim Stapleton, Vice President, Cyber Insurance Product Manager, ACE

Cyber War Game

The military does it, the government does it – increasingly corporations are doing it… Cyber war games are becoming a crucial part of testing your company’s responsiveness and resilience in the face of a ‘live’ cyber event. Ahead of our conference, Advisen will host a cyber-incident simulation exercise that will see selected teams of experts – representing the various stakeholders in a real event – work through a mock cyber incident in real time. An observation team will critique the handling of the incident and report back some best practices and key takeaways for our conference audience in London.

• Melissa Ventrone, Partner, Wilson Elser (Moderator)
• Charlie Howard, Director, Burson-Marsteller
• Ashley Hurst, Partner, Olswang LLP
• Winston Krone, Managing Director, Kivu Consulting

Closing Remarks & Reception