NEW: Cyberrisiken und deren Versicherbarkeit

The IT security situation in Germany remains threatening. The COVID 19 pandemic has currently exacerbated the cyber threat situation. A new quality of attack and increasing digitization call for emphatic implementation of measures. The measurability of cyber risks and their insurability are topics that must be addressed within the banks. As part of their own holistic cyber risk management, their risk exposure also requires addressing the possible transfer of cyber (residual) risks to corresponding insurance coverage.

In the financial lines segment in particular, a cross-insurer restructuring of global underwriting practice for cyber risks is currently underway. The reasons for this are the significant change in the cyber threat situation, the associated considerable loss potential, and numerous loss notifications to insurers. In the meantime, these statute certain core parameters for information security in order to be able to further cover the risks and, at the same time, offer policyholders the opportunity to further expand their risk management setup and strengthen the bank's cyber resilience through prevention services and access to expert networks.

Speakers are:

  • Stefan Becker (Head of Division WG22 Cyber Security for Business at the Federal Office for Information Security)

    Topic: Current situation and insurability of cyber risks
    • Current threat to the IT security situation in Germany and aggravation by the pandemic situation
    • New attack qualities and increasing digitalization as a requirement for the emphatic implementation of measures by addressing the measurability of cyber risks and their insurability
  • Dr. Dominik Bender (Authorized signatory, in-house lawyer and data protection officer at Dr. Hans Günther Axe Assekuranz Versicherungsmakler GmbH)

    Topic: The risk transfer of cyber risks to insurance solutions: Opportunities and challenges in practice
    • Cyber trends in 2021 and risk exposure of companies in the financial services sector
    • Risk analysis and risk transfer: important building blocks in the banking institution's holistic cyber risk management
    • Risk coverage of bank-specific cyber scenarios through possible insurance coverage
  • Michael Daum (Senior Underwriter Cyber, Underwriting Financial Lines - Central & Eastern Europe at Allianz Global Corporate & Specialty SE)

    Topic: Insurability from the Insurer's Perspective: Requirements and Current Cyber Readiness
    • The 10 key points for information security from the insurer's perspective
    • Current degree of fulfillment of the 10 core points by our customers
    • Offer differentiation according to cyber readiness

Moderation: Dr. Andreas von Oppen (Associate Director in the thematic group Law des Bundesverbandes deutscher Banken e.V.)

The event is aimed at members of management as well as employees from the areas of insurance, legal, risk management, compliance, human resources and IT security.

Please note, webinar language is German.

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