Sovereign Insurance Services Limited
Finance Centre, Suite 761A, Europort
Tue 10 October 2017
08.55 take seats
09.00 prompt start
Mike Smith, London market cyber and technology insurance specialist, London
Geoff Trew, chairman, Sovereign Insurance Services Limited, Gibraltar
(A short bio on each speaker is provided below)
Mike Nicholls, manging director, Chestertons
Free, but places strictly limited, reservation essential
Who should attend?
Finance directors, head of IT, business owners, risk managers, compliance offers, data protection officers, executive and non-executive directors, any officer of a company responsible for personal data records
Cyber and Data Loss insurance (Cyber Insurance) is fast becoming a ‘must have’ cover for any business that retains personal client data (financial or otherwise) within its computer systems. Loss of such data or release of it, to the outside world through error, negligence or the criminal acts of employees or third parties, could result in serious financial loss to the company. These exposures can be insured through the multitude of insurance policies that have become available in the current insurance market. The problem for most companies is to understand what coverage is available and how best to access the right insurance products to protect the potential data loss position to which all companies are potentially exposed.
This seminar will explain what cyber insurance is, what it covers and why you need to give this much greater attention within your business. Hackers are after personal data, contact details, bank details, personal information. And they are good at getting it.
The regulations governing data protection are becoming more onerous with businesses increasingly responsible for securely protecting information contained within their computer systems. Under the new General Data Protection Regulations “GDPR”, applicable from May 2018, companies will face heavy fines if their systems are breached and sensitive client data is accessed by unauthorised third parties.
You will learn about Incident Management, Communications and Crisis Containment, Business Interruption, Damage Repair, Extortion and Privacy Infringements.
You will know how cyber-attacks may be excluded for more general business interruption policies, given the growth in cybercrime, and how cyber insurance fills those gaps.
Risks need managing. This seminar will help you identify the risk, manage the risk, and insure the risk against financial loss, which could be substantial.
Mike Smith is a London Market Cyber and Technology insurance specialist who works with international Lloyd’s Brokers, Lonsdale Insurance Brokers Limited who are the specialist Lloyd’s broker partner for Sovereign Insurance Services and their professional liability business. With SIS providing the local presence and the Gibraltar ‘know how’ Mike, with his extensive knowledge and experience of the London and International Cyber market, is ideally positioned to provide SIS and their clients with what they require in this specialist area. User friendly insurance products to meet their needs. He has access to all the major Cyber Underwriters and can provide bespoke solutions to even the most complex requirements if required.
Geoff Trew was born and educated in the UK with over 40 years’ experience in the international insurance industry. Was head of Asia Pacific production and marketing operations for A&A (now Aon) and then J&H (now Marsh) co-ordinating the Retail, Wholesale and Reinsurance operations in the region for all classes of insurance business whilst specialising in the emerging markets of Japan, Korea and China. Was a Member of Lloyd’s for 25 years and has had a series of senior directorships in many insurance related companies around the world which included the Lloyd’s Underwriting operations of the Nissan and Hyundai Groups where he established the Lloyd’s Syndicate and the Corporate Capital Investment vehicles concerned. Now based in Gibraltar and London he also currently holds insurance related directorships and senior consultancy appointments in Gibraltar, the UK, China, Hong Kong, India and Bermuda.