Every day there are fresh headlines about the extent of the threat businesses and individuals face from cyber crime. The figures for the amount this costs people, the coprorate world – especially the banks – and the economy are alarming yet the role cyber insurance could play is rarely discussed in Parliament or by Government.
We have entered a new and unfamiliar world of threat and opportunity which may, alongside these ground-breaking developments, require new ground rules for undersatnding, assessing and pricing risk. It is a world where huge quantities of data can be collected, processed and used, but also one with new risks and liabilities.
If the role of Government is arguably to significantly help monitor and ensure ongoing UK competitiveness and employment in an increasingly digital driven and smart technology era many argue this needs to be higher up the political aganda. The All Party Parliamentary Group on Insurance & Financial Services will be taking up this challenge on Tuesday 25 November when it meets a range of experts in the field.
This session will bring together parliamentarians and a wide group of well-placed insurance professionals and insurance related technologists and visionaries to discuss the opportunities and implications of more widespread "cyber-insurance" provision.
Tuesday 25 November
5pm, Committee Room C, 1 Parliament Street
The Insurance Implications of Cyber Crime
Carla Baker, Senior Manager, Government Affairs, Symantec
Richard Bach, Assistant Director - Cyber Security, Information Economy, Department for Business, Innovation & Skills
Matt Cullen, Assistant Director, Head of Strategy, ABI
Sarb Sembhi, Founding Chair of the Security Advisory Group of ISACA London Chapter
Matt Webb, Head of Technology and Cyber at Hiscox UK
The meeting is open to the public, although accommodation is limited. You should go to the entrance on Parliament Street, not the main public entrance to the Houses of Parliament.
Zurich disappointed in new #discountrate. David Nichols, Ch Claims Officer: "The failure to change the discount rate to a balanced level will only serve to increase the cost and, therefore, affordability of certain types of insurance - especially for higher risk customers." pic.twitter.com/ac1CfBzfxX— Zurich Insurance UK (@ZurichInsUK) July 15, 2019
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