JOINT PRESS RELEASE The Geneva Association and Nanyang Technological University, Singapore collaborate in cyber risk insurance research (Zurich/Singapore, 26 September 2016) Leading international insurance think tank The Geneva Association and Nanyang Technological University, Singapore (NTU Singapore) will jointly collaborate in cyber risk insurance research. Under a new agreement signed today, The Geneva Association will join the Oversight Board of the NTU?s Cyber Risk Management Project (?CyRiM?) and support insurance-related research initiatives through its academic experts and global insurance and risk management networks. The NTU Singapore?s Cyber Risk Management Project (?CyRiM?) is a new public- private partnership project between industry, academia and government. Launched in May this year, it aims to foster an efficient cyber-risk insurance market place by developing cyber loss data and analytics, and engaging academics, insurance professionals and IT security experts in research development. Furthermore, through improving cyber-security knowledge, infrastructure and mitigation, it will help to grow the cyber risk insurance market by promoting both the demand and supply of insurance coverage. The research findings will be shared with the public, private and academic sectors in the form of published papers and a joint Geneva Association-NTU conference attended by experts to exchange best practices, new ideas and trends in cyber risk and insurance. Both parties will also work together to promote the integration of Asian, European and North American insurance cultures in the cyber-risk field. The Geneva Association?s membership, up to 90 CEOs of global insurance companies, will provide valuable guidance that will assist CyRiM to achieve its objectives. Dr Fabian Sommerrock, Deputy Secretary General and Head of Insight at The Geneva Association, will join the Oversight Board of the CyRiM project. He said, ?We are very pleased to be signing this agreement with NTU Singapore. Cyber risks are growing exponentially and this project is an important platform for the insurance industry, academia and government to understand cyber risks better and address them more effectively. We are looking forward to playing an active role in this globally relevant initiative.?
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