Weathering the Storm: Cyber Insurance Risk in 2024

Overview

As cyber risks grow and the technology that criminals are using becomes more advanced, how can insurers weather the cyber storm?

In this webinar, experts will discuss the likelihood of a widespread cyber event impacting an insurer’s portfolio and how insurers can prepare for accumulating cyber risk.

Watch now on-demand!

Here’s what we’ll cover:

• What cyber accumulation risk means for insurers
• What new tech tools can help with risk modeling
• How AI can assist in the risk assessment process
• How insurers can navigate an environment of
  constant change

Meet the Expert Panel:

Host: Elizabeth Blosfield Deputy Editor at Carrier Management		Max Perkins Head of Innovation for Cyber & Technology at AXIS Capital
Norman Niami Immediate Past Chairperson & Member of The American Academy of Actuaries		Erica Davis Managing Director and Global Co-head of Cyber at Guy Carpenter

Max Perkins is the Head of Strategy and Innovation for AXIS Global Cyber and Technology insurance. In his role, Max supports AXIS in maintaining a position as a thought leader in cyber and technology underwriting and risk transfer. He is also responsible for ensuring AXIS continues to develop innovative and effective ways of leading the understanding of cyber risk and cyber insurance. He provides AXIS with experienced insight for innovation opportunities around product development and, equally as important, the most efficient sourcing and use of capital to support the book of business. Max has 18 years of experience in the insurance industry. Prior to joining AXIS in 2020, he was Senior Vice President at Lockton Companies. He has also roles at AIG, Beazley and Chubb.

Norman Niami is a member and immediate past chairperson of the American Academy of Actuaries’ Committee on Cyber Risk. In 2022, he received an Outstanding Volunteerism Award from the Academy for his exceptional leadership in shepherding the committee’s update and expansion of the Cyber Risk Toolkit. He is also a member of the Casualty Committee of the Actuarial Standards Board, and of the ASB’s ASOP No. 39 Task Force, and serves on the Casualty Actuarial Society’s (CAS) Examination Committee and contributes to the International Actuarial Association on behalf of the CAS. He is Vice President, Actuary, at the American Property Casualty Insurance Association.

Erica Davis is Managing Director and Global Co-Head of Cyber at Guy Carpenter.  Erica joined the Guy Carpenter team through the 2019 Marsh and McLennan acquisition of JLT Group, where she led the Cyber and E&O practice for JLT Re in North America.  Erica serves clients by utilizing years of  cyber, professional and multi-line underwriting expertise to design new products for emerging cyber risks. Erica joined JLT Re from Zurich, where she was senior vice president and Head of Cyber & Professional Liability for Zurich North America. Erica had national oversight of the Professional Liability, Security & Privacy and Employed Lawyers lines of business, with a specialization and thought leadership position in network security and privacy risk transfer solutions. Erica is a key contributor to the public sector dialogue around cyber insurance and has provided testimony to the House Small Business Committee as an expert witness in cyber security insurance.  As a prominent leader in understanding cyber risk at an enterprise level, she has presented at the National Institute of Standards and Technology and is a member of the Advisory Committee of Risk Sharing Mechanisms (ACRSM), which advises Treasury’s Federal Insurance Office on terrorism and potential structures for risk sharing across the industry.

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