First Bermuda ICRMC event hailed as a success
The first Bermudian edition of the International Cyber Risk Management Conference (ICRMC) was held over two days at the Hamilton Princess Hotel & Beach Club in Bermuda.
According to ICRMC a total of 206 delegates registered for the event on December 6-7, including cyber risk professionals and industry executives from across Canada, the US, the United Kingdom, and Bermuda. Almost half of the delegates consisted of C-Suite level executives.
Delegates shared experiences and best practices that will help them manage the risk and impact caused by a cyber breach and discussed risk trends and challenges faced within the insurance industry as it pertains to cyber risk. Cyber insurance featured prominently in the conversation, ranging from pricing to product trends and evolving buyer needs. The discussion also included how blockchain and artificial intelligence (AI) can be used in cyber risk management, as well as a perspective on Bermuda’s expertise and offer as a regulatory jurisdiction and centre of excellence for insurance.
Bill Stewart, division president, Global Cyber Risk Practice, Chubb said, “The 2018 International Cyber Risk Management Conference in Bermuda offered the perfect blend of cyber technical content as well as international insurance market perspective in an environment that was highly conducive to networking. I highly recommend this conference for anyone that is serious about understanding this rapidly evolving marketplace.”
“We are thrilled with the feedback we’ve heard from delegates on our first event in Bermuda. We are grateful to the BDA for their support, and to the many industry leaders for adding their expertise, and perspectives,” said Joel Baker, president and chief executive officer of MSA Research, the producer of ICRMC. “The discussions were provocative given recent breach events including the Marriott and Starwood breach. How much data should be asked of consumers, and the responsibilities that come with its collection warrant strategic consideration in terms of customer experience and cyber security.”
More than 19 companies participated as sponsors or supporters of the event including the Bermuda Business Development Agency as the signature sponsor, as well as Deloitte and Slice Labs as Platinum sponsors. Other sponsors included major insurance companies, security firms, technology companies and law firms, along with several Bermudian insurance-focused associations.
ICRMC will return to Bermuda on December 4-6, 2019.
