Cyber – prevention is better than cure
Slides available to download
Time: Registration and refreshments with light buffet lunch from 12:30pm for 1.00pm start (2:00pm finish) Will be served in Level 2 bar.
Room: Room 1 at the Carriageworks
The Prudential Regulation Authority (PRA) has warned that more ground needs to be covered by General Insurance firms in relation to cyber insurance risk. The regulator is particularly encouraging practitioners and product providers to be more proactive and to take more strategic positions in respect of cyber risk management.
It is a core role of insurance brokers to raise the profile of risk management generally with their SME clients. They have an emerging opportunity to position themselves as the provider of choice in respect of cyber risk management and mitigation solutions and the provision of advice and product solutions in this space.
To remain competitive, insurance brokers have to be able to show their value as the trusted expert advisor of choice for their SME customers. If they fail to do so, they risk the core insurances that currently form the backbone of their income stream becoming vulnerable to those wishing to commoditise those products. It could also be argued that the provision of such advice lies in the very heart of a broker’s professional responsibility.
The seminar, delivered by CPP Group UK aims to highlight the cyber risks that make SMEs particularly vulnerable, provide real world claims examples and outline the best practices that professionals in this sector should be embracing.
- Commercial lines brokers and insurers
- Financial services providers
- Information security officers
- FCA Compliance teams and personnel
- Providers / users of insurance affinity schemes
By the end of the lecture, delegates will:
- Understand the regulatory position regarding cyber risk and understand what the PRA advice means in practical terms
- Gain an appreciation of the real life cyber risks that make SME easy targets
- Gain an understanding of the types of products available in the market that can be used to safe guard against cyber risk as a preventative measure
- Understand how brokers can show their value as a trusted expert advisor of choice for their SME clients
- Understand the role of cyber insurance policies in the risk management and risk mitigation cycle.
Michael has spent most of his career starting up and building insurance and tech businesses, both in his own right and in conjunction with close colleagues.
In recent years, before heading up the UK team at CPP Group, Michael worked as a strategic management consultant, and has previously held positions with Building Block Insurance as Non-Executive Director and Executive Chairman. He was also the director of IT at UK General Insurance.
With an impressive career spanning 30 years, Michael has an outstanding entrepreneurial spirit and a keen eye for tech-lead propositions that challenge the status-quo of financial services.
Perry is the sales manager for CPP Group and has 10 years’ experience in the financial services sector having most recently joined CPP from Western Union.
It’s in Perry’s interest to carve out those niche opportunities for our business partners to give them propositions with a competitive edge, that create customer loyalty and drives ancillary revenue.
Thank you to Chubb for sponsoring today's raffle prize.
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.