Cyber

FREE LUNCH & LEARN 22 May 2019

Cyber Insurance from a Claims Perspective

We welcome all members & guests to attend a lunch time seminar which will be presented by Rajen Rajput from Driscoll & Damico UK LLP.

About the speaker

Rajen Rajput has a numerical and technological background and has 11 years’ experience in the insurance industry. He immediately began to specialise in Business Interruption claims and spent 8 years representing policyholders before moving to MDD as a forensic accountant.

Rajen has gained experience and knowledge from understanding claims from both a policyholder’s viewpoint and an insurer’s. Rajen has been involved in multi-million pound claims in addition to participation with smaller cases. He focusses on matters related to cyber, fraud and investigations, fidelity, aviation, property, lost profits and financial services.

Overview

Cyber insurance cover is primarily purchased by a business or group to reimburse the policyholder for loss of profits and additional costs following an attack on its IT infrastructure. These attacks come in various forms including denial of service (“DoS”), distributed denial of service (“DDoS”), phishing or ransomware and they can have serious damaging effects on a business.

The increase in high profile cyber-attacks such as the WannaCry and NotPetya malwares is coinciding with an upward trend in policies being written for cyber protection. According to AON, the estimated global gross written premium in the cyber market was approximately USD 2.3bn in 2016 and has shown annual growth rates of circa 30% in recent years.

This seminar explores cyber insurance from a claims point of view and provides material on this relatively new but rapidly growing market. The material includes potential damages to a business both insured and uninsured, issues when calculating losses flowing from cyber-attacks and the methods of attacking a business’s IT infrastructure.

Learning Objectives

By attending this event, delegates will be able to identify:

· the growing prominence of cybercrime as a risk to businesses

· the effects on a business from a cyber breach

· differences between a “non-damage” cyber loss and a property loss

· appreciation of the possible magnitude of economic damage from a cyber-attack including aggregate risk

· interpretation of cyber risk policies

It will be held at the The Holiday Inn, Eastleigh on 22 May 2019 from 12.15pm to 1.45pm.

A free lunch will be provided, if it is not required or if you have any dietary requirements, please advise when booking so that we can accommodate your needs.

Slides from the Seminar