- This event has passed.
Emerging Cyber-Risk Challenges for Finance, Insurance and Technology sectors
February 6 @ 9:30 am - 7:30 pm
Despite the increasing risk from information security breaches, companies have not taken sufficient steps to improve IT as defence against cyber-risks. Allianz’s (2018) survey reports that cyber-risk in terms of data loss, misuse and theft are the biggest risks of UK private firms. Insurance is one of the effective and tested mechanisms to accept the unwanted risks of the businesses thus providing economic security in the presence of uncertainty. In addition to providing economic security to the businesses, insurers provide risk management advice to mitigate the risks of their clients. Essentially, cyber-risk is a new phenomenon for both academics and the finance/insurance industry.
This workshop on protection from cyber-risk will bring together academics and practitioners – people who wouldn’t ordinarily get the chance to meet – to share ideas and collaborate to develop products and risk management techniques to protect the economic damage of industry. This workshop will facilitate collaboration among academics, finance/insurance industry leaders, SMEs, several associated government and industry organisations (e.g. National Cyber Security Centre, EIT Digital Doctorial Training Centre in Security, Data-driven Innovation, Fintech Scotland etc) and seek effective ways of working together.
· The specific characteristics of cyber risk for private firms
· The latest technologies and methods in protecting individuals/firms from cyber risk
· The traditional insurance coverage for business risks including cyber risk
· The scope of quantification and pricing industry firms economic losses from cyber risk
Bring both industry and academic communities together to review the risk management initiatives in the era of growing cyber threats
Generate ideas to review and develop a risk-based resilience system to protect industry firms from growing cyber threats
Identify the areas of further research within the broader field of risk and vulnerability management of industry firms.