Digital Risk

The primary objective of the IUA’s Digital Risk Working Party is to demystify the issue of digital risk. It aims to encourage a transfer of information between IT managers and underwriters and alert insurers to their own potential exposure to digital risks. The group has investigated what constitutes a digital risk, why organisations insure against them, what elements are insurable and the precautions necessary to avoid ‘hack attacks’, viruses and other such risks.

IUA Contact: Scott Farley
The Digital Risk Working Party welcomes comments and suggestions for research topics and future seminar events. Click here to email your ideas to the group's secretary. 

News
18.1.10: Market Briefing: Avoiding Pitfalls in Electronic Transactions, Storage of Electronic Data and Going Paperless
18 January 2010
Circular 006/10: This market briefing sets forth potential legal risks (and ways of minimizing such risks) in electronic transactions, storage of e-data and going paperless in both the USA and UK.
19.11.09: Market Briefing: E-mail and E-signature - Common myths and misconceptions that may leave you either exposed to risk or stuck in a paper world
19 November 2009
Circular 117/09: This market briefing will look at how common email practices stand up when required to provide reliable records of business correspondence.
9.2.09: IUA Digital Risk Working Party
9 February 2009
Circular 012/09: A request for new members to join the IUA Digital Risk Working Party.
11.9.08: Market Briefing: The Role of Technology in Transforming Underwriting
11 September 2008
This IUA Market Briefing will highlight technology used by leading insurers to benefit commercial lines business.
30.4.08: EU Sector Inquiry – Coinsurance (Subscription) Market Practices
30 April 2008
Further to the comments raised by DG Comp on premium alignment in its Sector Inquiry, the attached Principles in respect of the placement of coinsurance business by intermediaries have now been agreed and endorsed by national Associations in the EU. Members are strongly encouraged to adopt these Principles during their business practices.
21.4.08: Market Briefing: Data Security
21 April 2008
A market briefing examining the issues of data security and cyber crime.

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Documents
Assessing and Managing Digital Risks
14 February 2007
A guide for businesses published by The International Underwriting Association and The Department of Trade and Industry.
DRWP Terms of Reference
14 February 2007
Terms of Reference for the Digital Risk Working Party