Cyber Insurance – To Lead or Follow?

The Changing Relationship of Cyber Insurance With Risk Prevention and the Public Sector

Tuesday, July 28, 2020 at 11 AM ET

The United States now operates in a cyber landscape that requires a level of data security, resilience, and trustworthiness that neither the U.S. government nor the private sector alone is currently equipped to provide.

The 2019 National Defense Authorization Act chartered the U.S. Cyberspace Solarium Commission to address this challenge by answering two fundamental questions:

• What strategic approach will defend the United States against cyberattacks of significant consequences?
• What policies and legislation are required to implement that strategy?

Several recommendations explicitly enjoin the participation of the cyber insurance industry:

• Reshape the cyber ecosystem toward greater security by establishing a public-private partnership on modeling cyber risk
• And, exploring the need for a government reinsurance program to cover catastrophic cyber risks

This panel of cyber risk experts discusses the relevance, importance, actionability, and contours of these propositions. As well, they will discuss the evolving value proposition of cyber insurers as offering indemnity as well as risk prevention, including how to strike a proper balance.

Panel:
Erin Ayers, Editor, Cyber Front Page News, Advisen (Moderator)
Christopher Keegan, Senior Managing Director, Cyber & Technology National Practice Leader, Beecher Carlson
Erin Kenneally, Director of Cyber Risk Analytics, Guidewire-Cyence
John Merchant, Managing Director, Optio Group