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Organised by the EAA - European Actuarial Academy GmbH in
cooperation with the Instituto dos Actuários
Portugueses.
With the rise of digital economy, cyber risk has become a major
concern for all customer segments. Although the development of
'physical' protection strategies against cyber attacks is
fundamental, no protection is perfect, and insurers are intended to
play a crucial role in providing financial protection. The
cyber-insurance market is increasingly developing but with
important uncertainties on the real value of the guarantees, due to
the nature of the risk itself. The emerging and evolving nature of
cyber-risk and its potential systemic component make it one of the
most important social and economic risks and questions its
insurability.
The purpose of this seminar is to provide an overview on cyber
risk and on the ability of cyber insurance to cover it. After an
introduction describing the specificities (technological,
technical, actuarial) of cyber risk, we discuss the actuarial
models that can be adapted to pricing and reserving in the context
of cyber insurance and reinsurance. We also discuss the question of
'insurability' of cyber, and of quantification and prevention of
accumulation scenarios.
After completing this course, you will be able to
- Identify the specificities of cyber
risk
- Know the contents of typical insurance
and reinsurance policies on cyber
- Understand the impact of legislation on
cyber insurance
- Understand the practical constraints of
cyber underwriting and how an efficient underwriting policy can
help to reduce the risk
- Identify the factors that may jeopardize
the mutualisation of cyber risk
- Identify extreme events and convey a
risk segmentation
- Construct accumulation scenarios on a
cyber portfolio
- Quantify the impact of protection
measures on the risk of saturation in the insurer response
capacity
- Handle numerical tools and practical
applications
- Identify the key aspects of cyber claim
management
- Anticipate major trends in the evolution
of the risk
Your early-bird registration fee is € 970.00 (net) / € 1,193.10
(incl. 23% VAT, if applicable) for bookings by 16 March 2024.
After this date, the fee will be € 1,280.00 (net) / € 1,574.40
(incl. 23% VAT, if applicable).
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