Cyber Insight 2017
With cyber-attacks on the increase and the imminent implementation of the GDPR, the cyber market is transforming. Despite a global market that is forecast to be worth $20 billion by 2025, many brokers still say they lack the knowledge and confidence to sell cyber effectively.
Across a packed programme, Cyber Insight looked at how brokers can gain the know-how they need to secure the best cyber cover for their clients, what the implications of the GDPR are for brokers and their clients, the cyber products on the market and what’s coming next and how to secure the right cover for your clients and convince them to buy it.
Saxon East, content director, Insurance Times
Presentation | GDPR: The risks for SMEs and those who insure them
- Where are you now? Where should we be now and where do we need to be by May 2018?
- Are your own policies on data collection, maintenance and sharing GDPR compliant?
- What are the main risks for SMEs and how can you mitigate these?
- How can you help your clients get ready for the GDPR?
Ash Patel, technical director, RWA Compliance
Panel discussion | Market update: the cyber insurance landscape
- What is cyber and what does a cyber policy do?
- What are the best cyber insurance products available out there?
- What should you be looking at when choosing a cyber insurance product?
- Key cyber risks: data protection and business interruption
- What are the current attitudes and buying patterns?
Christian Stanley, underwriting performance – performance management directorate, Lloyd’s
Julie Donkin, director – cyber & tech division, Ashley Page Insurance Brokers
Stephen Ridley, lead cyber underwriter, Hiscox UK and Ireland
Case study | How to sell cyber with the perfect policy for your clients
Understanding your clients’ needs and their current policies should be a priority for any broker when selling any type of insurance. However, many clients report an overlap in policies. What questions should you be asking your clients? What do they want their cyber policy to cover? This case study will go through the selling journey, the most successful tactics for completing a cyber sale and how to educate your clients to be cyber resilient.
Richard Hodson, director, UKGlobal Broking Group
Today’s homes are more connected than ever, a trend set to increase considerably over the next few years. Wi-Fi connected heating controls, security cameras, washing machines, fridges, kettles and smart speakers like Amazon Echo all bring increased convenience to our lives. But they also introduce new vulnerabilities.In this presentation HSB Engineering Insurance examines the evolution of cyber insurance into the home insurance market, the emerging risks homeowners face in terms of cyber security and what it means for you and your clients.
Paul Cullum, alternative distribution manager, HSB Engineering Insurance
Case study | Learning from our mistakes: more lessons Willis Towers Watson have learned
Although most cyber claims come from businesses with less than £50 million in revenue, cyber insurance is still outside the comfort zone of many brokers who are providing their clients with a wide range of commercial covers. This is mainly caused by the lack of resources and time to specialise in a specific type of insurance. What can we learn from a large broker?
- How do they decide which policy to go for?
- What risk management processes should they go through with clients to assess their cyber risk?
- How do they advise their clients on how GDPR might affect them?
- How do they protect themselves from potential claims of miselling and is this something you need to consider?
- Where do they get the latest and most up-to-date information about cyber issues?
Darryl Brophy, executive director, Willis Towers Watson
A hacker will discuss cyber security and how to keep your personal and business accounts safe online. The session will include practical do’s and don’ts and what you can do to protect yourself from a cyber-attack.
Gerry Grant, chief ethical hacker, Scottish Business Resilience Centre
Panel discussion | The challenge of non-standardised cyber policy wording and definitions
There is an extremely broad variety of cyber insurance products on the market, some designed to cover specific elements of cyber risks and some to operate as comprehensive cyber cover. The resultant lack of consistency in terminology does not help businesses or brokers. How is the Insurance Act helping to solve this issue?
- Should cyber insurance wording and definitions be standardised by law?
- Practical solutions from industry practitioners
Hans Allnutt, partner, DAC Beachcroft
John Pennick, divisional director – professional risks, Berkeley Insurance Group and chairman, BIBA’s Cyber Focus Group
Gemma Sword-Williams, insurance and risk consultant, Jelf Insurance Brokers
Advisory session| Cyber policy comparison
The complexity of cyber policy wording often means that brokers have a hard time explaining the many and varied differences to their clients. This can have an impact on the risk discussion and forces many brokers to provide only a single market offering, restricting client choice. This session will provide a presentation and live demo of the world’s first cyber insurance policy comparison engine, Cyber|Decider designed to assist brokers in the analysis and presentation of the ideal cover to their clients.
Neil Hare-Brown, ceo, STORM Guidance
When you hear the words data breach or cyber-attack, what comes to mind? For many people, these words conjure up images of rogue hackers infiltrating secure computer systems to steal valuable or sensitive data, but what do real cyber liability claims look like? This case study will go through real examples of everyday claims and look at the challenges caused by the huge variety of policies and terminology used.
Anthony Hess, head of incident response, CFC Underwriting
Panel discussion | The future of cyber insurance: where are we heading?
With the cyber insurance market yet to fully mature, our panel discusses what the future holds:
- Can terminology be standardised between insurers?
- What’s the predicted market growth in the UK and internationally?
- Are stand-alone policies preferable to bolt-on?
- Should there be a minimum standard of coverage for all cyber policies?
- What new products can brokers expect to see in future?
Lucia Grossi, broking manager, Swinton Business
Jamie Monck-Mason, executive director, Willis Towers Watson
Adelle Gruber, global cyber,privacy & technology underwriter, Brit Global Specialty
Saxon East, content director, Insurance Times
Programme and speakers correct at time of publication but subject to change
The event attracts 120 plus brokers from across the UK. Sponsorship opportunities can be tailored to suit your particular business objectives; from raising brand awareness, to product launches to building a reputation as a thought leader. To find out more about the benefits of sponsorship and how to get involved in the 2018 event contact:
group head of sales
020 7618 3431
Thanks to our sponsors
The Willis Towers Watson Building
51 Lime Street
7 November 2017
08:15 – 17:15