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Scor — SCOR Annual Conference 2017
13 slides from Scor's conference presentation, Sep 29, 2017
Slide 1: SCOR Annual Conference 2017
SOOR The Art & Science of Risk ia SCOR Annual Conference Pushing the edges of risk awareness and insurance: The role of the (re)insurance industry to cover risks affecting societies and governments including new applications of artificial intelligence 28 & 29 September 2017
Slide 2: Cyber risks, where we are
Cyber risks, where we are Sébastien Héon, Deputy Chief Underwriting Officer, SCOR Global P&C
Slide 3: Agenda
AGENDA 1 Evolution of Cyber Risks 2 Evolution of the Cyber (Re)insurance market 3 Understanding Cyber Risks 3
Slide 4: Cyber risks: What we said in 2016
Cyber risks: What we said in 2016 Denis Kessler (quoting the WEF Global Risk Report) Victor Peignet Didier Parsoire / Sébastien Heon 4
Slide 5: Recent Cyber attacks evidenced disruptive potential - Data Breaches remain significant
Recent Cyber attacks evidenced disruptive potential - Data Breaches remain significant Disruptive Cyber Attacks Key take-aways SCOPE − Cyber is not only Data Breach / Privacy liability − Manufacturing / industrial accounts are also Dyn WannaCry Petya impacted, worldwide − Geopolitical tensions are
Slide 6: Agenda
AGENDA 1 Evolution of Cyber Risks 2 Evolution of the Cyber (Re)insurance market 3 Understanding Cyber Risks 6
Slide 7: The (re)insurance market: What we said in 2016
The (re)insurance market: What we said in 2016 c. $9bn A Great Diversity of Cyber cover purchase: Cyber Exclusion write-back / Cyber Endorsement c. $3bn Cyber Standalone Policy Cyber + E&O Bundled Policy Comprehensive Cyber Package 7
Slide 8: The (re)insurance market: What we see in 2017
The (re)insurance market: What we see in 2017 Stability of insurance capacity & reinsurance structure – Market growth as expected Insurance capacity remains overall stable – carriers more cautious in allocating capacity Some large programs (ca. $600m) have been placed in the US Take-up rate in
Slide 9: Agenda
AGENDA 1 Evolution of Cyber Risks 2 Evolution of the Cyber (Re)insurance market 3 Understanding Cyber Risks 9
Slide 10: Understanding cyber risks: What we said in 2016
Understanding cyber risks: What we said in 2016 Structuring cyber insurance products and developing tools are challenges requiring cyber knowledge and out-of-the-box innovation 10
Slide 11: Understanding cyber risks: An example of what we have done 1
Understanding cyber risks: An example of what we have done 11
Slide 12: Understanding cyber risks: An example of what we have done 2
Understanding cyber risks: An example of what we have done 12
Slide 13: As a Lead reinsurer, we contribute to the improvement of the whole Cyber Chain
As a Lead reinsurer, we contribute to the improvement of the whole Cyber Chain to collectively build a sustainable Cyber (Re)insurance Market Addressing challenges at each step of cyber risk management and risk transfer Brokers Insureds Insurers Reinsurers • Exposure analysis & scenarios • Matching