Swiss Think Tank hosted SCOR Global P&C in Zürich 19 April 2016
I was invited to participate the panel and the insurance workshops:
- Panel discussion: Cyber Cat, accumulation, modelling and pricing (moderator: Michel Dacorogna, SCOR)
- Panel discussion: IT Security Industry and Cyber Insurance (moderator: Petra Wildemann, FTI)
Panel & Workshop Topics
- Modelling implies data and data imply good definitions of the risk they originate from, do we have enough data on the subject? Do we have the right definition of cyber-risk? Are company willing to tell the World about the cyber-attacks they have been facing?
- Until now most of the news about cyber-risks have been in form of doom days scenarios: is cyber-risk only cyber-cat? Do we need to model it as we model natural catastrophes or there are also other possible models? Is it possible to design “attritional loss” models for it on top of cat-models? What is the role of stress scenarios versus data driven models?
- How dependent the individual cyber-risks are? Do we face type of “systemic risks” in the cyber-world? How do we model dependence for those risks?
- Should our models only limit themselves to “actuarial” (probabilistic) models or should we try to model the firm’s IT System themselves to explore how resilient they are to cyber-attacks. Would it be possible to develop some sort of “rating model” of the cyber-security of a company?
- How do we cope with this fast changing environment: the cyber threats of today are they going to be those of tomorrow? Can we organize our research to capture the changing trends?