RMS Cyber Risk Seminar: February 2

Managing Cyber Accumulation Risk

Join RMS for an exclusive, invitation-only half-day seminar as we introduce new solutions to help you quantify your cyber exposure and accelerate your growth in the cyber insurance market.


Tuesday, February 2, 2016 at 3:00 p.m.
Old Library, Lloyd's of London
1 Lime Street
London EC3M 7HA
Learn more about the New York Cyber Risk Seminar on February 10, 2016

Cyber threat is growing. Sixty-one percent of business leaders see cyber as a serious threat to their business, with the cost of cybercrime for the global economy now estimated at US $445 billion annually.* The global cyber insurance market is now set to reach US $7.5 billion by 2020, according to a PwC report, tripling its current size.**

To capitalize on the cyber market, insurers must understand the systemic nature of cyber threat and be able to manage accumulations that could cause widespread and correlated losses. Portfolio management of cyber lines is concerned with risk aggregation, amongst other factors.

Insurers recognize the need to formulate, model and standardize the language and understanding of cyber risk. This all requires a common framework to both capture and evaluate cyber exposure, made possible using detailed technical insights to assess probable maximum losses from the main drivers of insured cyber loss. **

Cyber Insurance — A New Way Forward

This seminar outlines our work with the respected Cambridge Centre for Risk Studies (CCRS) and eight leading cyber insurers to develop the RMS Cyber Accumulation Management System (CAMS). CAMS includes accumulation scenarios for the primary drivers of cyber insurance loss and portfolio management for cyber insurance.

Together with contributions from experts and thought-leaders in cyber risk, our seminar will cover:

  • Understanding key drivers of cyber risk and establishing risk appetite
  • Defining a standardized cyber exposure data capture framework
  • Introducing five accumulation management scenarios through technical analysis of cyber loss processes, including Data Exfiltration; Denial of Service Attacks; Financial Transaction Compromises; Cloud Service Provider Failure; and Extortion Incidence
  • Using CAMS to capture client cyber risk data and to actively monitor and manage risk accumulations

About the Presenters


Caroline Dunn
Executive, Class of Business; Underwriting Performance; Performance Management – Lloyd’s
Caroline has been with Lloyd’s since June 2014, specializing in general and employer’s liability. She also focuses on the management of cyber risks and exposures impacting all business classes. Prior to joining Lloyd’s, Caroline was Product Director for Liability, Construction, and Engineering at RSA UK and has held various underwriting roles focusing on large and multinational risks.


Jeremy Hyne
Head of Professional Indemnity – Canopius Managing Agents
With Canopius since 2001, Jeremy is responsible for the Cyber Liability account. His previous roles have encompassed both underwriting and broking over a 35-year period.


Geoff White
Underwriting Manager, Cyber, Technology, and Media – Barbican Insurance Group
Geoff joined Barbican in January 2013. Prior to that, he spent three years at Zurich Insurance, taking charge of the full technology-professional indemnity book and developing a cyber-insurance offering.

* http://www.mcafee.com/uk/resources/reports/rp-economic-impact-cybercrime2.pdf
** http://pwc.blogs.com/press_room/2015/09/cyber-insurance-market-set-to-reach-75-billion-by-2020-pwc-report.html