Following the success of the inaugural International Cyber Risk Management Conference, Bermuda, organisers are making plans for the event to return next year.

The conference attracted 206 delegates, which included cyber-risk professionals and industry executives from across Canada, the US, UK, and Bermuda. Almost half of the delegates consisted of C-suite level executives.

Bill Stewart, division president, Global Cyber Risk Practice, Chubb, said the conference 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 market place”.

Joel Baker, president and chief executive officer of MSA Research, the producer of ICRMC, said: “We are thrilled with the feedback we’ve heard from delegates on our first event in Bermuda. We are grateful to the BDA (Bermuda Business Development Agency) for their support, and to the many industry leaders for adding their expertise, and perspectives.

“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 cybersecurity.”

The event was held at the Hamilton Princess & Beach Club. 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 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.

More than 19 companies participated as sponsors or supporters of the event including the BDA 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.

Darius Delon, president of Risk Management 101 and past chairman of RIMS Canada Council, said: “The speaker list was extremely talented — with some of the speakers having spent a portion of their careers doing cyber-risk management for the Secret Service, FBI and the Department of Justice. The in-depth stories during the socials added another level to the event and I learnt as much there as during the sessions. I have already pencilled in December for the next ICRMC.”

ICRMC will return to Bermuda next year from December 4 to 6.

To see images from 2018 ICRMC Bermuda, and get updates on the 2019 programme, go to: www.bermuda.icrmc.com