Insuring the 'uninsurable': making a market for systemic risks

Join us in the Old Library at Lloyd’s to hear Tom Clementi and Anthony Bice discuss the attributes of systemic risk, how the UK has addressed catastrophic terrorism risk through public-private partnership, and how government and industry could work more closely together to build greater national resilience to cyber risk.

“We are in the riskiest world that we have ever been in, yet it is the least risky it will ever be”.

Effective management of disaster risks, such as those associated with climate change, digital vulnerability, geopolitical instability, and communicable diseases, is a critical imperative for governments and insurers, and yet is a challenge which neither can rise to meet alone.

In this session, the speakers explore how governments have responded in different ways to the challenges of disaster risks, and how terrorism, once an 'uninsurable' risk in the UK, is now addressed through a large and competitive commercial (re)insurance market which meets the needs of businesses and supports the UK’s economic resilience. Tom and Anthony also discuss current initiatives in the UK and US which are exploring the challenges and opportunities associated with a range of public-private responses to catastrophic cyber risk, and invite an interactive audience Q&A.

Learning objectives:

• The attributes of 'uninsurable' risks and how governments around the world have responded to them
• The UK’s approach to managing and financing catastrophic terrorism risk
• The challenges and opportunities associated with implementing effective public-private (re)insurance responses to systemic cyber risk

Chair: Dominick Hoare, Group Chief Underwriting Officer, Munich Re

CPD events are open to CII and PFS members
Registration closes at 12pm two working days before the event date
For events held in The Old Library, Lloyd's pass holders may also attend and do not need to register
Original Photo ID (Driving Licence, Passport, Work ID with company logo and full name) is required to gain entry to all venues

Conditions:

• Email confirmations and original photo ID must be produced to security staff at the lecture venue
• Attendance confirmations are non-transferable to any other person or lecture
• All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

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Contact:
Please contact Patricia Pedraza (07463 028327) with any queries regarding the CPD events programme.

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