The Role of Law and Government in Cyber Insurance Markets

 

The Role of Law and Government in Cyber Insurance Markets: A Cyber Cyber Insurance Conference

     Presentation slides will be available shortly

Friday, March 12, 2021 

10:00 a.m. – 5:00 p.m.

Online

Over the last decade, the prevalence and cost of cyber-attacks on private companies has steadily increased. Private firms that have been victimized by successful cyber-attacks have had reams of confidential data stolen, incurred massive business interruption costs, paid vast sums in cyber-ransoms, and had their brands and public images deeply tarnished. In response, they have increasingly turned to the insurance industry to help cover these costs, leading to the rapid and continuing growth of cyber-insurance markets. As in all insurance markets, the evolution of cyber-insurance markets has been indelibly shaped by the law and a broad range of government initiatives.

This conference will examine the past, present, and future of this type of public involvement in cyber insurance markets, focusing on questions such as:

  • When and how do cyber insurers help their policyholders mitigate cyber-risk and to what extent does coverage have the opposite effect of inducing moral hazard or encouraging would-be cyber-attackers?
  • To what extent have coverage disputes clarified the parameters of coverage for cyber losses in cyber insurance policies and property/casualty insurance policies that are not cyber-specific?
  • What role can and should government play in fostering more robust and actuarially-sound cyber-insurance markets?
  • Can and should government initiatives or new laws help cyber insurers to manage the risk of a cyber-catastrophe?

To answer these questions, we will bring together a broad range of experts from the academy, industry, and government. The resulting presentations and discussions are intended to provide broad-ranging perspective on the central legal, regulatory, and policy issues that will continue to shape the insurance industry’s role in spreading, allocating, and managing cyber-risk.

This event is free of charge and welcomes all interested parties including students, faculty, alumni, and insurance professionals. 

Jointly sponsored by the University of Connecticut Insurance Law Center and the University of Minnesota Law School.

Insurance Law Center logoUniversity of Minnesota Law School logo
 

RSVP by March 11

 

10:00 - 10:15 - Welcome and opening remarks

  • Dean Eboni Nelson – Dean, University of Connecticut School of Law           
  • Peter Siegleman – Interim Directory, Insurance Law Center and Philip I. Blumberg Professor of Law, University of Connecticut School of Law
  • Daniel Schwarcz, Fredrikson & Byron Professor of Law, University of Minnesota Law School                      

10:15 - 11:55 - Panel 1 - The Role of Cyber Insurers in Promoting Cyber Security

  • Ronen Avraham, Professor of Law, Tel Aviv University Faculty of Law
  • Tom Baker, William Maul Measey Professor of Law, University of Pennsylvania Law School
  • Kelly Castriotta, Senior Director, Global Cyber Underwriting Executive, Markel Corporation
  • Rotem Iram, Founder and CEO, at-bay
  • Shauhin Talesh, Professor of Law, University of California Irvine School of Law

11:55-12:05 - Break and transition to Panel 2

12:05 - 1:05 - Panel 2 - Litigating Insurance Coverage for Cyber Losses

  • Michelle Boardman, Associate Professor of Law, Antonin Scalia Law School, George Mason University
  • Laura Foggen, Partner at Crowell Moring
  • Jay Kesan, Professor of Law, Illinois College of Law

1:05-1:25 - Break for lunch and transition to Panel 3

1:25 - 2:45 - Panel 3 - Cyber Insurance, Law, And Catastrophe Risk

  • Kenneth Abraham, David and Mary Harrison Distinguished Professor of Law
  • Daniel Schwarcz, Fredrikson & Byron Professor of Law, University of Minnesota Law School
  • Erin Kenneally, Director of Cyber Risk Analytics, Guidewire/Cyence
  • Josephine Wolff, Assistant Professor of Cybersecurity Policy, The Fletcher School

2:45-2:55 - Break and transition to Panel 4

2:55 - 4:15 - Panel 4 - The Government’s Role in Fostering Cyber Insurance Markets

  • John Godfread, North Dakota Insurance Commissioner and Chair of the Innovation and Technology Task Force for the National Association of Insurance Commissioners (NAIC)
  • Peter Kochenburger, Associate Clinical Professor of Law and Deputy Director of the Insurance Law Center
  • Asaf Lubin, Associate Professor of Law, Indiana University Maurer School of Law and Fellow at IU’s Center for Applied Cybersecurity Research
  • Sasha Romanosky, Policy Researcher, RAND Corporation

4:15 - Closing remarks – Daniel Schwarcz, Fredrikson & Byron Professor of Law, University of Minnesota Law School

4:20 - End of event

RSVP by March 11