Cyber liability risks seminar to be held in October

A breakfast seminar will take place at the Pomme d'Or Hotel in St Helier on 8th October to highlight the increasing impact of cyber risks on business and to discuss the measures that can be taken to mitigate these risks. The event is organised by specialist insurance and financial services company Vantage, in conjunction with Ascent Underwriting and KPMG.

Cyber exposures are one of the biggest current day threats to businesses and should be seen as a high priority matter not solely by the IT and Compliance functions of an operation, but also the Board. Any business that involves client data storage, digital commerce and social networking is at risk. This could be as basic as sending and receive information by email, regularly downloading documents from websites, emails or memory sticks.

Cyber risks effects all types of businesses in all sectors, particularly those in the financial services sector who are largely reliant on technology to handle, store and process highly confidential client and commercial information. They therefore generate a significant cyber risk.

A breach of network security, a hacker attack or a denial of service event could have a significant impact on operations. Consequently, the third party liability and the associated costs and expenses to comply with privacy regulations, restore data and deal with a breach can be substantial. These risks should be taken seriously by the board of directors and the company's corporate governance framework.

Speakers: Richard Packman, Managing Director, Vantage Limited; Arthur Mainja, Senior Manager, KPMG; Gareth Tungatt, Director, Ascent Underwriting

For further details about the seminar please contact Sarah Le Page by email sarah.lepage@vantage.je or by phone 01534 706500.