Harrogate lecture: Cyber Business Interruption

Registration 12:15am, lunch from 12:30pm, lecture starts at 1:00pm, close 2:00pm

In the past, discussions on business interruption centred on physical risks like fire, flood and theft. Today, the risk landscape has changed dramatically as organisations increasingly depend on information technology systems to run and manage their business. Against the backdrop of a rapidly evolving cyber threat environment and the proliferation of global ransomware attacks, many companies have been left heavily exposed to cyber business interruption loss. However, history has shown that organisations can also be authors of their own misfortune without the need for an external threat actor. Human and operational errors can also result in significant disruption to information technology systems and subsequent losses. These risks are only amplified by complicated supply chains and reliance on third party organisations.

This presentation will provide an overview of Business Interruption covers in Cyber insurance policies and the role they play in protecting organisations against loss.

Learning objectives
By the end of this lectures, delegates will be able to identify:
• How Network Interruption covers operate
• The use of Waiting Periods and Deductibles in Cyber insurance policies
• How Business Interruption losses are measured and the basis of calculations
• The manner in which the Period of Interruption can be measured
• How Contingent Business Interruption can support supply chain risk

Speakers Biography
Gemma Sword-Williams is an Associate Direct of Cyber at Willis Towers Watson where she enjoys helping businesses understand, articulate and transfer their risk exposures through tailored insurance solutions. Having previously worked in industry as an insurance buyer, she brings a unique client focus while advising organisations on how to navigate the Cyber insurance markets. As a regular speaker at conferences and insurance events, she is passionate about translating the world of insurance and helping people make sense of new and emerging risk exposures. Before joining the insurance industry, Gemma held a number of financial crime and risk management positions within the Financial Services sector. Gemma earned her Master’s degree in International Law at the University of Leeds and is an Associate of the Chartered Insurance Institute.

Please note any cancellations 24 hours prior to the event who have booked a ticket with food will be charged accordingly.

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