Meeting the cyber insurance challenge – head on

AkinovA hosted its first ‘Ask The Experts’ private event and Q&A evening in May, bringing together some of the insurance, forensics, capital markets, modelling and legal industries’ leading experts on cybersecurity. Bermuda:Re+ILS summarises some of the points made at the event.

In attendance:
Chuck Bralver, director, AkinovA
Paul Jardine, non-executive director, AkinovA
Kristin Toretta Lee, cybersecurity attorney, Baker & Mackenzie
Patrick MacGloin, senior managing director, FTI Consulting
Siobhan O’Brien, Cyber Centre of Excellence lead, Guy Carpenter
Brent Poliquin, head of strategy, AIR Worldwide
Edouard von Herberstein, partner and chief underwriting officer, HSCM Bermuda
Henri Winand, chief executive officer, AkinovA

Cybersecurity is the fastest-evolving threat landscape insurers must deal with, according to a panel of experts assembled by AkinovA, the electronic platform for the transfer and trade of re/insurance risk.

The threat is evolving fast, but the insurance industry has so far struggled to keep up, leaving companies battling to manage their cyber risk. Attacks are increasingly likely to involve state actors as well as individual criminals, the panel noted, which is making cyber attacks more sophisticated and less predictable.