Prof. Julian Williams on "Measuring Systemic Cyber Risk and the Role of Insurance"

Measuring systemic cyber risk and the role of insurance

You're warmly invited to a talk by Professor Julian Williams on "Measuring Systemic Cyber Risk and the Role of Insurance", exploring how we assess and manage cyber risk at a systemic level. Join the CDT Cybersecurity community for this insightful session and discussion. 

Cyber insurance contracts are a mechanism for firms to manage risks associated with attacks on cyber assets. Insurers and reinsurers that issue these contracts must account for systemic failures in technology in addition to individual idiosyncratic risks. Unfortunately, systemic factors are inherently difficult to assess, and questions arise about how certain types of losses can be valued when a large proportion of economic activity is affected by a single incident. This leads us to the central question: what constitutes a systemic cyber incident?

In this talk, I will briefly discuss the theory of cyber insurance and how uncertainty in systemic factors threatens the stability of the insurance market. I will then explore the practical aspects of developing a solution that enables a method for classifying systemic incidents.

It’s very easy to be caught up in the moment with the latest techniques or attacks. And the need to constantly react, leaves few having the time to see the big picture. So whether as a researcher, or in a startup or large company, or in a policy organisation,  just how do you shape what’s going on?

This talk will cover 4 simple mental models, with plenty of cyber examples, that will help you analyse and then act, that are useful from early career to professor, vice-president or senior civil servant – these are the models I have found to be the best guides for making a difference.  

You will need to register via Eventbrite - https://www.eventbrite.co.uk/e/the-economics-of-cyber-insurance-by-professor-julian-williams-tickets-1399541328789?aff=oddtdtcreator

There will be light refreshments and a networking session at the end of the talk.