Non-physical property insurance claims, an issue getting increased relevance. How do insurers cope with the new reality?
In July 2017, Lloyd's of London was estimating that a global cyber-attack could result in damages of as much as USD 121.4 billion in an extreme event, a sum comparable to economic losses caused by Hurricane Katrina in 2005.
In today's world, cyber risks are becoming a real challenge for insurers. Human errors, hackers, phishing and extortions are just a few of the actions that can generate important losses for companies. The non-physical property insurance claims, which have become an increasingly relevant issue in today's world, is one of the key topics analyzed on 23 March, during "IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond".
In the first part of the event, the debates will focus on 2017 and the lessons learned by insurers and reinsurers from the most "expensive" year of the last decade in terms of NatCat damages. The talks will continue afterwards with solutions to narrow the insurance gap, including how to make a mandatory insurance scheme work at its real potential, as well as the potential of microinsurance as solution to expand NatCat insurance coverage.
The second part of the conference will analyze technological innovation in support of property insurance, as well as the cyber risk challenge. Assessing the "real" potential of the cyber risks and debating "Silent-cyber" - a large scale issue that needs attention are among the key topics debated by the specialists participating at the event.
"IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond" gathers insurance professionals in Prague, Czechia. The event takes place on 23 March at the Four Seasons Hotel.
More details are available here.
Book your seat now!
Author: Adina TUDOR
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