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Understanding the impact of cyber risk

This year, specialist insurance and reinsurance broker Miller, at the AIRMIC conference and exhibition in June, is focussing on the growing cost and increasingly serious consequences of cyber crime.

According to a report published last year by accountancy firm, Deloitte, cyber-attacks are increasing in both frequency and sophistication, while at the same time being widely underestimated in their scope and severity.

Ken Macdonald, Head of Corporate Risks, says: “Few areas of our lives – either personal or business – are untouched by the digital revolution. Almost every business now relies heavily on the internet and IT networks for day-to-day operations, communications and transactions. With the recent attacks affecting high profile brands like Sony, threats from cyber crime have been brought very sharply into focus.

“Whether it is privacy issues, the infringement of intellectual capital, virus transmission, cyber terrorism or the consequential reputational damage or loss of revenue that is a concern, our workshop on cyber risk will look at what risk managers need to be aware of, helping them to manage the impact on their organisations.”

Miller’s Greg Collins will host the workshop “Cyber risk – the growing threat and what you should know” at the conference. The panel will be made up of Chris Maurice of BT plc, Nick Alston of Digital Barriers (a security consultancy), Graeme Newman of CFC Underwriting and Kiran Nayee from Miller.

Miller at its stand (no 75 & 76) invites delegates to enter their competition with a chance of winning this year’s must have gadget, an IPad 2. Entrants must correctly complete a short cyber-crime questionnaire to be entered.

The team at Miller also invites delegates to join them for a lunchtime champagne reception on Tuesday 7 June from 1pm.