CRO Forum Cyber Risk Seminar

05 Sep 2014

Organised by: CRO Forum / Hosted by: Swiss Reinsurance Company Ltd
Location: Rüschlikon, Swiss Re Centre for Global Dialogue

Welcome

Early in 2014 the CRO Forum launched a working group on Cyber Risk with a view to bringing together cyber experts from CRO Forum companies and identifying best practices in the area of cyber risk management.

Today’s life depends heavily on a functioning technology infrastructure. As data and internet availability have become crucial for individuals, the private sector and governments, attacks on these systems have become more frequent and more sophisticated. The homogenisation of technology means that one attack can affect many systems, opening the potential for serial and accumulative losses.

The insurance industry itself already depends on technology and cyber resilience, which is an essential part of operational risk management. At the same time, the insurance industry is also exposed to cyber risks through the insurance policies it writes both through more traditional P&C contracts and through more specialist lines.

The Cyber Risk Seminar organised by the CRO Forum and hosted by Swiss Re at the Swiss Re Centre for Global Dialogue is designed to inform the CRO Forum's work in this area and to bring an external perspective on some of the issues faced by insurers both in managing the cyber threat and providing insurance cover for cyber risks.

Agenda

08.00

Welcome coffee

08.30

Welcome address and opening remarks
David Cole, Group Chief Financial Officer and Member of the Group Executive Committee, Swiss Re

08.45

Cyber risk:  A continuously mutating threat
Richard Bach, Assistant Director for Cyber Security, Department for Business, Innovation & Skills

09.30

What is the role of the CRO in managing cyber threat?
Panel discussion, moderated by Richard Bach, Assistant Director for Cyber Security, Department for Business, Innovation & Skills

Panellists:

  • Mark Carter, Partner, Security and Risk Analytics, Deloitte
  • Steve Bonnington, Senior Vice President, Global Technology and Privacy Practice, Lockton Companies LLP
  • Dave Canham, Head of Enterprise Governance – Corporate Speciality Risks, Aviva

10.30

Coffee

10.45

What are the challenges for an insurance market in cyber?
Panel discussion, moderated by James Hatch, Director Cyber Services, BAE Systems Applied Intelligence

Panellists:

  • Susan Shay,Head D&O & Professional Lines, Reinsurance, Swiss Re
  • Steve Bonnington, Senior Vice President, Global Technology and Privacy Practice, Lockton Companies
  • John Scott, Chief Risk Officer, Zurich Global Corporate
  • Christian Biener, Project Manager and Postdoctoral Researcher at the Institute of Insurance Economics of the University of St. Gallen

11.45

The future of Cyber Risk
James Hatch, Director Cyber Services, BAE Systems Applied Intelligence

12.30

Lunch

13.30

Closed session for CRO Forum Cyber Risk Working Group

17.00

Close

Speakers

Summary

Cyber resilience for the 21st century

The news is increasingly dominated by stories of cyber attacks on large organisations. Recent examples serve as a blunt reminder of the substantial financial and reputational impacts that such events can cause.

New technologies and increased digitalisation provide clear advantages in our daily lives. For businesses, the likes of cloud computing and 'bring your own device' initiatives will continue to increase the interconnectedness of organisations.

Read the whole summary on swissre.com.

Partners