Cyber Insurance and
Risk Controls

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Introduction:

Insurance companies are facing new challenges with the increasing demand for policies to cover cyber incidents such as data breaches and business interruption. Traditional risk assessments are no longer enough to understand the business impact of a cyber-attack. 

Cyber Value-at-Risk (CVaR) models have been proposed to quantify security incidents, but they are still quite limited in understanding the specifics of each company and quantifying the risk for a large number of feasible scenarios. A more holistic approach should be considered, but the lack of data and understanding of risks makes it a challenging problem. In this workshop, we will focus on the latest advances in the topic of cyber insurance, as well as case analyses that examine the effectiveness of current security controls.

Main Objectives 

To discuss the state-of-the-art of the cybersecurity market and identify future trends and challenges in the cybersecurity insurance market, with a special focus on compliance with the new regulations and best practices to implement

Topics to be covered include, but are not limited to the following:

  • Cyber Insurance
  • Cyber Risk Assessment
  • Cyber Risk Propagation
  • Security Controls and Standards
  • Cybersecurity Metrics and their Measurements
  • Maturity Models and Frameworks
  • Cyber Value-at-Risk (CVaR)
  • Cyber Economics
  • Economics Approaches for Cybersecurity
  • Cyber Harm

At the end of the workshop the participants will be able to;

  • Understand Shifts & trends in the current cyber insurance market  
  • Learn how you can Perform effective Risk Assessment and Impact Analysis for your Prospects/Clients
  • Recognizing the Shared Responsibility Between the Cloud vendor and Cloud Consumer in times of a Security Failure and Liability and their implications for you as a Cyber Insurance Provider
  • Understanding how the Cyber Liability Insurance and Can Benefit the Different Client Categories – Explaining the Differences in First Party and Third-Party Coverage   
  • Developing an effective Risk Modelling Framework to Map the Cause of Losses to the Unique Coverage Frameworks
  • From the Clients’ Perspective – Understanding the Key Considerations When Purchasing a Cyber Insurance, What Seals the Deal?
  • Overcoming the lack of historical data on cyber incidents 
  • Delivering reliable cyber claims & incident management services 
  • Implementing effective incident response 

Targeted Audience

  • Insurers/reinsurers
  • Underwriters
  • Brokers
  • Actuaries
  • Loss adjusters & claims managers
  • Risk managers
  • Cyber/IT lawyers
  • Insurance purchasers
  • CIO’s, CISO’s & CRO’s
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Whilst BMK Training has core courses which we offer on an international basis to both companies and individuals, we also recognise that from time to time, your company may have specific training requirements that cannot be satisfied in a public training environment.

We can bring our Training/workshops directly to your workplace or we will customize training to meet your specific needs ensuring effectiveness in achieving real performance improvement.
If you have 8 or more delegates then, in house training can be of a greater advantage for your organization.

Advantages of in-house training include:

  • Cost savings up to 50% of the training expenses with more effective group training.
  • Training is confidential, allowing teams to discuss and work on real issues as trainers will usually sign confidentiality agreements.
  • In-house training encourages team building and better understanding of one another
  • Training is fully-customized for any team, department, or organization

For Registration and other Training arrangements,
contact us on the detail below.

SOUTH AFRICA : +27 11 057 6001
TANZANIA Cell: +255 769 688 544
WhatsApp +27 79 574 0389
info@bmktraining.co.za / www.bmktraining.com