DEPARTMENT OF THE TREASURY

WASHINGTON, D.C.

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U.S. Department of the Treasury’s Federal Insurance Office and 

New York University Stern School of Business’s Volatility and Risk Institute 

CATASTROPHIC CYBER RISK AND A POTENTIAL FEDERAL INSURANCE RESPONSE

Friday, November 17, 2023

NYU Stern School of Business

Henry Kaufman Management Center | 44 West 4th Street | Room 2-60 | New York, NY

8:00 – 8:30 am Registration

8:30 – 8:50 am Welcoming Remarks

Richard Berner, Co-Director, Volatility and Risk Institute, NYU Stern

Steven Seitz, Director, Federal Insurance Office, U.S. Department of Treasury

8:50 – 9:05 am Opening Keynote Speech

Nitin Natarajan, Deputy Director, Cybersecurity and Infrastructure Security Agency 

9:05 – 9:55 am C-Suite Fireside Chat: Insuring Catastrophic Cyber Risk as a Generational Risk and 

Opportunity

Senior executives will discuss distinct features of cyber risk and the cyber insurance 

market, and whether the specific risk of catastrophic cyber incidents requires 

collaboration between the private market and the public sector.

John Doyle, CEO, Marsh McLennan (moderator)

Albert Benchimol, former CEO, AXIS Capital

John Keogh, President and COO, Chubb

Martin South, President and CEO, Marsh

Jim Williamson, Group COO and Head of Reinsurance, Everest Global

9:55 – 10:45 am Panel 1: Catastrophic Cyber Risk and the Cyber Insurance Market

Industry cyber insurance experts will discuss cyber risk and the cyber insurance market in 

the context of catastrophic cyber risk, including systemic cyber risk, the extent of and 

limits to cyber insurance coverage in the market, and the implications of policy 

exclusions.

Pascal Millaire, CEO, CyberCube (moderator)

Tracie Grella, Global Head of Cyber Insurance, AIG

Monique Ferraro, Cyber Counsel, HSB, a Munich Re company

Darren Pain, Director, Cyber, The Geneva Association

Bob Wice, Head of Underwriting Management Cyber Risks, Beazley

10:45 – 11:00 am Break
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11:00 – 11:15 am Remarks

Drenan Dudley, Deputy National Cyber Director for Strategy and Budget, Office of the 

National Cyber Director 

11:15am – 12:05pm Panel 2: Catastrophic Cyber Risk as Viewed by the Policyholder

Representatives of critical infrastructure and business risk managers will provide a 

policyholder point-of-view on the risk of catastrophic cyber incidents, the catastrophic 

cyber insurance market, and a potential federal insurance response.

Christian Hoffman, Global Cyber Leader, Aon (moderator)

Philippe Cotelle, VP and Chair of the Digital Committee, Federation of European Risk 

Management Associations (FERMA); and Head of Insurance Risk Management, Airbus 

Defence & Space

William Hillman, Chief Underwriting Officer and incoming President and CEO, 

Associated Electric & Gas Insurance Services (AEGIS)

Kristen Peed, Treasurer, RIMS, and Director of Corporate Risk Management, CBIZ

Monica Shokrai, Head of Business Risk and Insurance, Google Cloud

12:05 – 12:25 pm Closing Keynote Speech

Graham Steele, Assistant Secretary for Financial Institutions, U.S. Department of the 

Treasury 

12:25 – 12:30 pm Concluding Remarks 

Richard Berner, Co-Director, Volatility and Risk Institute, NYU Stern

Steven Seitz, Director, Federal Insurance Office, U.S. Department of the Treasury