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BELTUG X-change: Sense and Nonsense of Cyber Insurance Policies - 26.05.2016


Date:26/05/2016


 

Presentations from the BELTUG event "X-change on Sense and Nonsense of Cyber Insurance Policies" are available now.

Insuring against cyber risks is very complex.  What are the risks? How can a correct premium be determined? With constantly shifting security issues,  managing a policy is a challenge.

This X-change initiated our members into this complicated topic, and helped them gain a better understanding of what their company needs -- and doesn't. We opened up the conversation about which risks you should and shouldn’t consider covering, looking into business continuity, lost income, damage to reputation, data destruction, and more.

Koen Van Loo, a hands-on expert, set the scene for the attendees.  What is cyber insurance about, what do you absolutely need to ask yourself when considering such an insurance policy.

We learned from him, that there’s no such thing as absolut security.  However the more a company invests in prevention and security of its information, the less it needs on the cyber insurance side.

 

 

The experts from Aon, Raf Duyver and Grégory Van Gossum, explained how Aon sees the concept of Cyber Insurances and how that’s reflected in their offering.  The higher the sensitiveness of the data, the more a sector subscribes to cyber insurance policies, we heard (e.g. banks, hospitals, etc.).

The annual cost of cyber criminality in Belgium is € 3,5 billion, an astonishing number!

 

 

BELTUG members can view the presentations below (just log in) 

 

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