Agenda

Agenda

CYBER RISK MANAGEMENT – EVOLVING CORPORATE NEED & RISK TRANSFER APPROACHES

The agenda for the International Cyber Risk Management Conference in Bermuda will focus on cyber risk with an emphasis on re/insurance and risk-transfer solutions. Cyber attacks can be immensely costly in terms of impact to business operations and your brand. If protecting your organization or client from the impact of a cyber attack is your core responsibility, ICRMC is the place to be.

  • Wednesday
    December 05, 2018

1:00 PM

6:00 PM

Golf Tournament

Come early and join us for the ICRMC Bermuda Golf Tournament. Golf Details

  • Thursday
    December 06, 2018

09:00 AM

2:00 PM

Private Meetings & Networking

2:00 PM

2:05 PM

Welcome and Acknowledgements

Joel Baker

President and CEO
MSA Research Inc.

Moderator

Adam Segal

ICRMC Bermuda Emcee and Director of Cyberspace and Digital Policy Program
Council on Foreign Relations (NY)

2:05 PM

2:15 PM

Opening Address

The Hon E. David Burt
JP, MP

Premier of Bermuda and Minister of Finance
Government of Bermuda

2:15 PM

3:30 PM

Evolution of Product and Buyers

Cyber towers have historically been purchased by large data holders such as FIs, Healthcare, Retailers and the Hospitality Industry. Today, the threat landscape has changed as has our global reliance on technology. 2017 saw large BI losses emanating from cyber events in non-traditional cyber classes such as manufacturing, transportation and logistics. We have also witnessed the impact of physical losses stemming from cyber and tech. Thus, there has been a marked shift in the demographics of cyber purchasers, no longer is this a niche product rather a more holistic product designed for a digitally integrated world. Is the industry prepared to respond by moving ‘silent cyber’ out of the shadows and explicitly embrace ‘embedded cyber’ in traditional policies?This panel will discuss the evolution of the cyber product including the challenges of creating products that cross into traditional P&C lines, it will look to the future as to what is next for this rapidly evolving insurance class and it will examine what insurance buyers are really looking for.

Moderator

Grainne Richmond

Vice President, Dyna Management Services Inc.

Panelist

Darius Delon

President, Risk Management 101 and Past Chair of RIMS Canada Council

Panelist

Giles Harlow

SVP, Professional Risk Solutions
Aon

Panelist

Chris Jansma

SVP, Head of FINPRO
Aspen

Panelist

Sarah Spurling

SVP, Professional Lines
Sompo International

3:30 PM

4:00 PM

Networking Break

4:00 PM

5:00 PM

Current Cyber Risk Trends and How They are Impacting Services and Offerings

The session will provide an overview of the current and emerging cyber threats across all major vectors and discuss how cyber-insurance services and offerings are addressing them. Audience Q&A will be encouraged.

Moderator

John Huff

President and CEO
Association of Bermuda Insurers and Reinsurers

Panelist

Charles Carmakal

VP
Mandiant/FireEye

Panelist

Tracie Grella

Global Head of Cyber Risk Insurance
AIG

Panelist

Daniel Rance

Underwriter, Financial Lines
Iron-Starr

Panelist

Bill Stewart

Division President
Global Cyber Risk Practice
Chubb

6:30 PM

9:30 PM

Networking Soiree

  • Friday
    December 07, 2018

07:30 AM

08:30 AM

Breakfast

08:30 AM

09:30 AM

Strength Through Information Sharing Within the Global Financial Services Arena

Cyber-threats are creating the need for improved approaches to ensure a safe and reliable financial industry environment. Information sharing around common threats and risk areas between financial services organizations has long been a common practice. However, these arrangements tend to be amongst local geographic or vertical groups and rarely extend into the larger FI community i.e., Banks, insurance, investments and other FI participants, who share with their local relationships but rarely exchange meaningful threat/risk intel with other FI communities. Cyber-risks now transcend all geographic and industry sub-groups (and industries) and the need for comprehensive, high-speed sharing and solution development around cyber-attacks has never been greater. Why should FIs leverage information sharing as an effective risk reduction approach? What are the major concerns in this area? How can FIs collectively improve their threat protection?

This session will explore these issues and more.

Speaker

Craigg Ballance

Director, Canadian Member Services
FS-ISAC

Speaker

Nick Galletto

Global and Canadian Cyber Risk Services Leader
Deloitte

09:30 AM

10:30 AM

The CISO Perspective

Moderator

Anthony Belfiore

SVP and CSO
Aon

Panelist

Tim Dawson

Managing Director, Cybersecurity
HSBC

Panelist

Tom Pageler

Chief Security Officer
BitGo Inc

10:30 AM

11:00 AM

Networking Break Sponsored by Aon

11:00 AM

12:00 PM

Smart Risk Management - What Are Regulators Focusing On?

Moderator

Todd Daubert

Partner
Dentons US LLP

Panelist

Maneesha Mithal

Associate Director of the Division of Privacy and Identity Protection
Federal Trade Commission

12:00 PM

1:30 PM

Lunch and Keynote Presentation

1:45 PM

2:45 PM

Reinsurance and ILS - Managing Cyber CAT Risk

Given the aggregation risk inherent in cyber as a peril, it is only a matter of time before reinsurance and ILS capacity will be tested by a CAT. This session will explore emerging structuring, underwriting and modeling approaches to both affirmative and "silent" cyber risk that will be of keen interest to cedants, reinsurers, brokers and investors alike.

Moderator

Greg Wojciechowski

President and CEO
Bermuda Stock Exchange

Panelist

Ari Chatterjee

Chief Underwriting Officer
Envelop Risk

Panelist

Mark Synnott

Managing Director and EVP
Willis Towers Watson

Panelist

Tim Tetlow

COO, HSCM Bermuda and Partner Hudson Structured Capital Management Ltd.

2:45 PM

3:15 PM

Networking Break

3:15 PM

4:15 PM

Cyber Pricing, U/W, Modeling and Reserving

This session will focus on differing approaches to pricing, underwriting, modeling and reserving of cyber risk. Hacking attempts occur daily at a rapid-fire pace (one government agency who was later breached said that they see greater than 10 million attempts per month). The impact of cybercrime is expected to reach $6 trillion by 2021 with current spending paling in comparison at approximately $96.3 billion and the threat of systemic cyber risk like cloud service failure could cost society billions. Cyber attackers are becoming more sophisticated and new vulnerabilities continue to emerge – insurance carriers must do the same and develop new approaches for understanding the likelihood and impact of cyber risk.

Moderator

Robert Parisi

Managing Director, Cyber Product Leader
Marsh

Panelist

Victoria Edmonds

VP, Professional Liability
Markel

Panelist

Alan Frith

Senior Manager, Consulting and Client Services
AIR Worldwide

Panelist

Noel Pearman

SVP and Cyber Product Lead
XL Catlin

4:15 PM

5:00 PM

From Blockchain to Crypto-Currencies - Cyber Security Implications

Blockchain promises a complete disruption of conventional data processing, handling and storage processes. From a cybersecurity perspective, it is being touted as a dream come true, with powerful cryptographic algorithms and no intermediaries that could leak or compromise data. But, like any new technology, blockchain presents unknowns and fresh challenges. Governments and regulators, including Bermuda’s, are working fast to put in place appropriate legal structures to govern structures such as cyptocurrencies. This panel will explore the opportunities offered by blockchain and the challenges surrounding regulation and security in the cryptocurrency arena, with particular reference to Bermuda, which is also exploring blockchain platforms for e-identities and land registry.

Moderator

Adam Segal

ICRMC Bermuda Emcee and Director of Cyberspace and Digital Policy Program
Council on Foreign Relations (NY)

Panelist

The Hon Wayne Caines

Minister of National Security
Government of Bermuda

Panelist

Chris Garrod

Director
Conyers Dill & Pearman

Panelist

George Thomas

Senior Advisor
PwC

5:00 PM

5:30 PM

Employing AI in Cyber Risk Management - Presentation and Chat

Over the last few years, the use of artificial intelligence (AI) in insurance has made important progress in traditional products, allowing insurers to elevate customer engagement, reach new levels of process automation, and/or gain new insights. How important can AI be to the emerging field of cyber insurance? In this talk, we will go through the key pillars of cyber security: threat intelligence, line of defense, intrusion detection, and incident response and discuss where, how, and to which extent AI can be of help for individual risk underwriting, pricing, and management. At the portfolio level, identifying the vectors of risk dependence and aggregation is of paramount importance. Whereas for traditional products, geography defines aggregation and risk mitigation is ensured through geographical diversification, the answer is less obvious when considering an eventual cyber CAT event. Finally, what does the near, somewhat predictable, future hold in regard to AI supporting the development of a healthy cyber insurance market.

Speaker

Charles Dugas

Director, Insurance Solutions
Element AI

5:30 PM

5:35 PM

Closing Remarks

Speaker

Nancy Miller

EVP and COO
MSA Research Inc.

5:35 PM

7:00 PM

Send-off Cocktail