Cyber risk is a growing global threat. Lloyds of London estimated, in its Emerging Risks Report 2017 'Counting the Cost: Cyber Exposure Decoded', that global cyberattacks cost businesses as much as $450bn per annum and valued the global cyber market at between $3 billion and $3.5 billion.
There are also concerns that increased sharing of sensitive customer information will augment the potential damage of cyber attacks - especially under the GDPR regime (coming into force in May this year) where businesses can face swingeing fines for failure to protect customer data.
Yet the understanding of cyber liability and risk exposures is still relatively underdeveloped, compared with other insurance classes. This seminar will survey recent market developments and lift the lid on cyberinsurance, dissecting its requirements and dimensions.
Only by getting a handle on the nature, incidence and measure of cyber risk exposure can businesses and customers secure the protection they need; insurers improve their portfolio exposure management and technical innovation continue to flourish.
Cyberinsurance must deliver good value, tailored cover for quantified risks.
Join techUK and our panel of experts for a lively debate on these complex issues.
Panel Chair: Gary Nuttall, Distlytics (tbc)
- Vishal Bhatnager, Country Managing Director for UK & Ireland, CAST Software
- Philip Bower, Technology Practice Leader, Sutton Winson
- Other speakers tbc
This techUK cyber event follows an earlier seminar on 27 February, Open Banking, PSD2 and the Cyber Challenges Facing the Financial Services Sector which is open for member registration.