This market briefing will highlight the role that cyber risk modelling can play in understanding cross-class non-affirmative cyber risk.

Description

Non-Affirmative or ‘Silent’ cyber risk remains a constant focus as insurers, in collaboration with their brokers and clients, seek to develop solutions in line with their increasingly affirmative strategies. The PRA’s expectations remain and insurers continue to build the expertise required to identify, quantify and manage their cross-class cyber exposures.

At this market briefing event, our speaker will explain from his own experience as a catastrophe modeller, how cyber risk modelling can deliver global data and insight into affirmative and non-affirmative cyber risk exposure. In addition, recognising the limitations to Cyber modeling and the level of information available to users assists in understanding the drivers of losses.

Attendees will also be updated on how the application of exclusions on a line of business and cyber peril manifestation level can help underwriters, understand, financially quantify and manage cyber risk by using risk models.

Speaker

• Yakir Golan is CEO and co-founder, Kovrr

IUA Non-Affirmative Cyber Committee Mini-Series

• Part 1/4 (10th December 2020): ‘Expecting Clauses at Christmas’ with DAC Beachcroft
• Part 2/4 (13th April 2021): ‘Navigating the Cyber perils within a wider insurance portfolio’
• Part 3/4 (27th April 2021): Reinsurance Perspective on Non-Affirmative Cyber’ with Gallagher Re
• Part 4/4: Details to follow