Cyber insurance buyers heading for Bermuda

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Published Nov 21, 2018 at 8:00 am
(Updated Nov 20, 2018 at 9:00 pm)




  • ICRMC Bermuda: speakers at the event, from left, are (top row) Anthony Belfiore, Wayne Caines, and Nick Galletto; (middle row) Tracie Grella, John Huff, and Maneesha Mithal; (bottom row) Noel Pearman, Mark Synnott, and Derek Vadala (Photograph supplied)



Cyber insurance buyers and risk experts will be in Bermuda next month for a two-day conference.

The International Cyber Risk Management Conference will welcome 175 delegates, including 70 overseas visitors, representing pension funds, banks and tech firms.

John Huff, president of the Association of Bermuda Insurers and Reinsurers, said that cyber-risk was becoming “one of the most complex and challenging situations for individuals and businesses worldwide”.

He added: “Enterprises of all sizes are assessing their appetite for retaining cyber-risk. It’s not just the large organisations.”

Mr Huff said that insurers and reinsurers were examining where they wanted to take on cyber-risk “including taking stock of any ‘silent’ cyber exposures and stress testing those scenarios”.

He added: “Insurers are…

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