Cyber liability will take centre stage at the upcoming NIBA Convention in Melbourne this September, with a masterclass scheduled for Monday 7 September set to explore the intricacies of this industry-changing topic.
Cyber and privacy threats are looming large, and represent the biggest emerging risk in the global economy.
The ‘Security, Privacy and Cyber Liability Masterclass’ will be hosted by Zurich Global Corporate Financial Lines Manager Kym Beazleigh and Minter Ellison Partner Cameron Oxley.
Beazleigh says that it is important for brokers to take heed of this new risk area, as developments in the field are occurring quickly.
“Firstly, its an emerging risk. We are talking about a risk that has really come to fruition since the Internet boom,” Beazleigh says.
“It’s an exposure that is changing every day. It is one that is so important to brokers because it’s a topic that, as an industry, we are all learning as we go along.”
Beazleigh hopes that brokers will leave the masterclass with a better understanding of the cyber risk landscape, the realities it poses to Australian businesses and how brokers can assist.
“Whilst risk management is the first safety mechanism for any company, I’d like brokers to understand that there are some risks that are very much transferable to insurers to help those insureds avoid loss,” he says.
“I think any opportunity for brokers to beef up their skill sets and spend some time educating themselves on this topic is time well spent.”
Beazleigh has local and international experience from Chubb and Liberty international Underwriters, and has extensive experience as a broker and underwriter at Lloyd’s.
Along side Beazleigh, Oxley will present a real-life case study to illustrate cyber threats in action.
Oxley provides litigation and advisory services to public and private sector clients on a range of insurance matters.
With 25 years of insurance and risk experience, Oxley has a developed specialisation in professional indemnity litigation, directors’ and officers’ liability insurance, and privacy and cyber risk.
Registration for the NIBA Convention is still open with a range of options available, including day passes and registration for social events. NIBA members are also invited to register for free entry to the Expo Hall, with options available to non-members also.