Speakers (SHMC) - 2014

Biographical Sketch

Mr Gary Chua has over 20 years of experience in the specialty liability insurance market, having served in different capacities as a reinsurer, direct insurance underwriter and broker. He is a lawyer by training, and co-author of the first edition Liability Insurance textbook commissioned by the Singapore College of Insurance, as well as an examiner of the Liability Insurance module as appointed by the Singapore College of Insurance.

As Head of Financial & Professional Risks (FINPRO) Practice, Mr Chua focuses on the Financial & Professional risk exposures for Marsh clients and provides risk advisory and risk transfer solutions in the form of Director’s & Officer’s Liability (D & O), Professional Indemnity (PI) and Crime insurance policies. He manages the Singapore portfolio which comprises a diversified group of clients in various industries, including financial institutions, technology, transportation, real estate and service providers. Mr Chua has been leading cyber risk efforts in Marsh for the past few years. He also contributes to the development and growth of the FINPRO profile in the region through industry seminars and events.

Synopsis

ERM 6 -  "Cyber Risk and Patient Confidentiality: Symptoms, Diagnosis and Treatment"

Cyber breaches have occurred so frequently in recent times, with consequences that significantly impact an organisation’s reputation besides causing major disruption to on-going operations. As a result, network security and data privacy are now boardroom governance concerns. Regulators have responded by increasing oversight and highlighting the need for public companies to make disclosures related to these risks.

Boards, the management and all employees need to not only devote more attention to this increasing area of cyber risk but evaluate their readiness to deal with such attacks.

In this session on Cyber Security, Gary will share:

• Why managing cyber risk is critical for healthcare institutions, its impact on patient confidentiality and the organization’s reputation
• Need for readiness and preparedness to act swiftly in response to security breaches
• Actual case studies involving cyber security breaches in healthcare institutions to demonstrate the importance of cost-effective management of cyber security risksof cost-effective management of cyber security risks