Cyber Risk & Privacy: Risks and Security measures for Business

Date: Thursday, July 27th, 2017 by Michaela Hickson.

The recent Cyber Risk & Privacy: Risks and Security Measures for Business seminar, held on 12 July at the Palazzo dei Giureconsulti, in the heart of Milan’s old town, was a great success for Global Insurance Law Connect.

Over 120 people, including guests from insurers and multinational corporations, attended this event organized by our Italian member Batini Traverso Grasso (BTG Legal), in association with Willis Tower Watson and Gruppo Lercari TPAs.

The focus of the event was the implementation and improvement of cyber-risk and privacy management. Some of the major professionals and experts in the global insurance market contributed, sharing insights and participating in discussions. The event opened with a keynote speech from Carlo Mauceli, Chief Technology Officer of Microsoft in Italy, who talked about cyber risks and their effects on current technologies.

Offering a legal perspective to this discussion was Giorgio Grasso, the leader of our network’s Cyber Special Interest Group, and a named partner of BTG Legal. Giorgio discussed the implementation of General Data Protection Regulations (GDPR) and the subsequent risk of massive litigation. Indeed, although the EU and national governments were initially slow to adapt to the progress of new technologies, the GDPR and the Network and Information Security Directive, due to come into force next year, will dramatically tighten the laws and regulations governing computers, the internet and information security and management, in Italy and all around Europe.

Tracey Jordan, partner at US member firm Foran Glennon, and Nick Gibbons, partner at UK member firm BLM, shared their expert views of the Anglo-Saxon jurisdiction.

Orazio Rossi, Country Manager for Chubb, provided an outlook on cyber coverage policies, while Savino Menna, Professional Indemnity Underwriter for Allianz Global Corporate Specialty, presented a new product dedicated to the professional coverage of Data Protection Officers.

Willis gave an outlook of its risk assessment service, and Gruppo Lercari described the activity of an incident manager, dealing with all the tasks to be carried out when a data breach occurs.

The conference provided an excellent opportunity to engage in a constructive debate between speakers and guests on the latest cyber-risk management solutions for businesses, in the context of an exponentially increasing threat level. The recent ‘Wannacry’ ransomware attack, that affected many of the most important corporations and government agencies around the world, is but one example of why cyber-risk management has to be at the heart of all organisations today.

For any information on the event or materials, please email Giorgio Grasso.

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