A short seminar on cyber and data loss insurance is being held on 10 October 2017, hosted by Sovereign Insurance Services Limited.  Mike Nicholls is to chair the event.  The seminar is targeting any person who has any level of responsibility over a company’s data, be it personal, financial or otherwise.  Chestertons’ clients are very welcome to attend this ninety minute event to further understand the risk and exposure, and how that risk could be mitigated.  Full details and booking instructions are below.

Hosted by:
Sovereign Insurance Services Limited

Where:
Finance Centre, Suite 761A, Europort

When:
Tue 10 October 2017

Time:
08.30 registration
08.55 take seats
09.00 prompt start
10.15 finish

Speakers:
Brian Bendle, Liability insurance specialist – London
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)

Chairman:
Mike Nicholls, managing director, Chestertons

Price:
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

Reservation:
claire.thirkill@chestertons.gi

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.

Speakers

Brian Bendle began his insurance career at Lloyd’s of London in 1979 as a broker. With the rapid growth of Directors & Officers Liability insurance in the mid 1980’s, he quickly became recognised as one of the leading authorities on the placement and structuring of D&O and Professional Liability programmes for UK and international clients. He has sat on a number of trade bodies and was an advisor to the Financial Services Authority at their formation in 1985. His particular specialism is the placement of insurance for offshore structures and he has been assisting SIS with the insurance needs of its clients, particularly in Gibraltar, for the last 7 years.

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.