Compass Initiative: Policy Workshop for the Cyber Insurance Market Progression (Day I)


Tue, 03/12/2019 - 17:00 to 22:00


Dan Jerusalem Hotel

Compass Initiative Logos

It is increasingly apparent that the cyber risk exposure of private sector entities is rapidly mounting, while mechanisms for assessing this exposure, managing it, and channeling some of the risk have yet to catch up. Moreover, some of the existing arrangements to underwrite cyber risks may not even be sustainable. A robust cyber insurance market could be both the beneficiary and the stimulant for far better cyber risk management.

Our four organizations are coming together to convene a high-level workshop in an effort to identify the key obstacles standing in the way of building a more mature cyber insurance market and to devise a strategy for addressing these obstacles. We aim to bring together under one roof for a day and a half diverse stakeholders from industry, government, and the NGO community to help develop a compass for moving ahead constructively on this front. Toward this end various stakeholders in the Israeli government are willing to explore how Israel could responsibly develop a beta site for testing the solutions identified by the workshop participants.

This workshop will convene key players – state regulators and cyber agencies, insurers and re-insurers, cyber risk quantification and modelling start-ups – in one place along with global big-thinkers from the relevant research and innovation fields. The aim will be to develop a compass for a true cyber insurance market progression. A genuine public-private partnership to jointly brainstorm in an intimate, closed-door workshop will allow key stakeholders to set holistic policy solutions for the challenges at hand.

The agenda of the workshop will cover the following issues:

  1. War exclusions, or what risks would cyber risks exceed insurers appetite for underwriting
  2. Backstopping mechanisms – what should be the threshold for state intervention and the modalities for doing so
  3. Risk assessments and monetization of cyber risk exposure
  4. Risk aggregation and the regulation for insurance carriers' solvency
  5. Models for information sharing and cooperation between states and insurers
  6. Cyber risk credit rating as complementary incentive for better cyber risk management.

Agenda (Day I)

December 3, 2019: Jerusalem Dan Hotel 

17:00-17:10 – Welcome and Introductions

17:10-19:00 – Session I: Between Wars and Cyber Wars (and other cyber offensives)

How does confrontation in cyberspace differ from classical wars? Where does insurance fit into the overall strategy for confronting cyber risk? How can coverage for warlike cyber risks be excluded and still leave insurance as a meaningful risk channeling mechanism for cyber risks?

19:00 – Transportation to the Reception and Dinner

20:00 – Reception and Dinner at Modern – Israel Museum Jerusalem

22:00 – Transportation Back to the Hotel


Abed Hasdia, Capital Market Insurance and Savings Authority
Amit Ashkenazi, Israel National Cyber Directorate
Amir Dahan, Tax Authority Compensation Department

Andrew James Grotto, CISAC, Stanford University
Asaf Lubin, Harvard Law School and The Hebrew University of Jerusalem
Assaf Michaeli, Capital Market Insurance and Savings Authority

Chris FinanManifold Technologies
David Levi Faur, The Hebrew University of Jerusalem
Efrat Bat Shua Oren, Tax Authority
Eli Touboul, Capital Markets, Insurance and Savings Authority
Elon Kaplan, Cytigic
Eric Durand, Swiss Re
Esther Ying Yang, Risk Lighthouse LLC
Fabien Caparros,  Agence Nationale de la Sécurité des Systèmes d'Information (ANSSI), French Government
Hagai Mei-Zahav, Israel National Cyber Directorate 

Hudi Zack, Israel National Cyber Directorate
Itai Benartzi, Israel National Cyber Directorate

Kirsten Mitchell-Wallace, Llyods
Matthias Fischer, Federal Ministry of the Interior, the Federal Republic of Germany

Michal Shlomo, Menora Mivtachim Insurance Company
Monica Ruiz, Hewlett Foundation
Moshe Bareket, Israel Ministry of Finance
Nick Beecroft, CyberCube
Noa Vider, Finance Division, Accountant General Office
Omri Goldin, Accountant General Office
Refael Franco, Israel National Cyber Directorate
Robert Morgus, Cyberspace Solarium Commission, US Government
Scott Kannry, Axio
Tal Mizrachi, INCD
Shaun Shuxun WangNanyang Technological University
Tali Shemer, Israel National Cyber Directorate 
Yael Goren Hezkiya, Israel National Cyber Directorate
Yakir Golan, Kovrr
Yann Tonnellier, Agence Nationale de la Sécurité des Systèmes d'Information (ANSSI), French Government
Yifat Siminovski, INCD

See Also: Day II.