Over the past years, technological advances have greatly increased our dependency on digital technology. As a result, consumers and businesses alike have become vulnerable to any form of distortion of their digital infrastructure. Due to the intangible nature and quickly changing character, risk managers face a formidable challenge to effectively manage this ‘cyber risk’. One of the possible mitigation measures is to buy cyber risk insurance, which may cover a plethora of expenses related to incidents in the digital realm.
Insurers, and the risk managers and actuaries working for them, play a dual role in the cyber insurance industry, offering both cyber insurance solutions as well as being exposed to cyber risk in their own organisation. In this web session, we will explore both roles of the actuary/risk manager. We will provide an introduction to cyber insurance, including its insurability and a discussion on the aftermath of a cyber incident, while placing it in the broader context of cyber risk management.
This web session "Cyber Insurance" on 9 December 2020 | 10:00-12:00 CET serves as an introduction to cyber insurance. Given that this is a relatively young field and standardized methodologies are only being developed, we focus on providing the participants with an understanding of current best practices without getting too technical. After attending the session, participants will be familiar with the structure of cyber insurance products and will have been provided with ideas how to approach cyber risk and cyber insurance in their own organization, with a focus on quantification and the process of cyber incident response.
The booking fee for the web session is € 100.00 plus 16% VAT.
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