EAA Seminar: "Actuarial Methods for Cyber Insurance"

Introduction & Programme

Organised by the EAA – European Actuarial Academy GmbH in cooperation with Polskie Stowarzyszenie Aktuariuszy.

With the rise of digital economy, cyber risk has become a major concern for all customer segments. Although the development of “physical” protection strategies against cyberattacks is fundamental, no protection is perfect, and insurers are intended to play a crucial role in providing financial protection. The cyber-insurance market is increasingly developing but with important uncertainties on the real value of the guarantees, due to the nature of the risk itself. The emerging and evolving nature of cyber-risk and its potential systemic component make it one of the most important social and economic risks and questions its insurability.

The seminar will be held in person, giving participants the opportunity to learn on site alongside other actuarial professionals, exchange ideas directly, and receive immediate support from the lecturers. The venue is the 4-star Novotel Warszawa Centrum in Warsaw (details below). The evening event on the first day is giving participants the opportunity to connect, discuss practical questions, and build their professional network in an informal setting.

Preliminary Programme
Monday, 20 April 2026
08.45 - 09.00 Registration
09.00 - 09.15 Introduction & welcome (EAA)
09.15 - 10.45 Introduction: definition of cyber risk, cybercrime ecosystems
10.45 - 11.00 Coffee Break
11.00 - 12.30 Cyber insurance market: trends and challenges
12.30 - 13.30 Lunch
13.30 - 15.00 Modeling and understanding the severity of cyber claims: focus on extreme claims
15.00 - 15.15 Coffee Break
15.15 - 17.00 Modeling and understanding the frequency of cyber claims: focus on contagion effect
approx. 18.30 Dinner

Tuesday, 21 April 2026
09.00 - 10.45 Modeling and understanding the impact of vulnerabilities
10.45 - 11.00 Coffee Break
11.00 - 12.30 Construction of cyber accumulation scenarios with network effect
12.30 - 13.30 Lunch
13.30 - 15.00 Designing and calibrating stress scenarios
15.00 Concluding remarks, closing of seminar (EAA)

Learning Objectives & Approach

The purpose of this seminar is to provide an overview on cyber risk and on the ability of cyber insurance to cover it. After an introduction describing the specificities (technological, technical, actuarial) of cyber risk, we discuss the actuarial models that can be adapted to pricing and reserving in the context of cyber insurance and reinsurance. We also discuss the question of « insurability » of cyber, and of quantification and prevention of accumulation scenarios.

After completing this course, you will be able to

• Identify the specificities of cyber risk
• Know the contents of typical insurance and reinsurance policies on cyber
• Understand the impact of legislation on cyber insurance
• Understand the practical constraints of cyber underwriting and how an efficient underwriting policy can help to reduce the risk
• Identify the factors that may jeopardize the mutualisation of cyber risk
• Identify extreme events and convey a risk segmentation
• Construct accumulation scenarios on a cyber portfolio
• Quantify the impact of protection measures on the risk of saturation in the insurer response capacity
• Handle numerical tools and practical applications
• Identify the key aspects of cyber claim management
• Anticipate major trends in the evolution of the risk

Participants

The seminar is open to all interested persons with basic knowledge on property and casualty insurance.

Attendees are encouraged to bring a laptop computer with R and, ideally, RStudio installed.

Lecturers

Caroline Hillairet
Caroline Hillairet has been a Professor at ENSAE Paris since September 2015, in charge of the master program in finance and actuarial sciences. She is a researcher at CREST (Center for Research in Economics and Statistics). She was board member of the French Institute of Actuaries between 2020-2024, and she is member of its scientific committee since 2025. She is co-director, with Olivier Lopez, of the Research Program on "Actuarial modeling of cyber risk" (Risk Foundation, Institut Louis Bachelier).

Olivier Lopez
Olivier Lopez is Professor of Statistics and Actuarial Sciences at ENSAE Paris, in charge of the master program in finance and actuarial sciences. Formerly, he directed the Institute of Statistics (ISUP) of Sorbonne Université from 2016 to 2023, and its actuarial master degree. He is a fully qualified member of the French actuarial association “Institut des Actuaires”, and member of its scientific committee since 2013. He is also one of the scientific directors of Detralytics since 2021. His research topics cover machine learning and survival analysis applied to actuarial science. He is co-director (with Caroline Hillairet) of the Research Program on "Actuarial modeling of cyber risk" (Risk Foundation, Institut Louis Bachelier).

Language & CPD Credits

The language of the seminar will be English.

CPD Credits
For this seminar, the following CPD credits are available under the CPD scheme of the relevant national actuarial association:

• Austria: 11.5 points
• Belgium:  11 points
• Bulgaria:  15 points
• Croatia: individual accreditation
• Czechia:  11 hours
• Denmark: 12 credits
• Estonia:  11.25 hours
• Finland: 7.75 points
• France:  66 points
• Germany:  12 hours
• Greece: 15 points
• Hungary:  12 hours
• Iceland: 11.5 credits
• Ireland: 11.25 hours
• Italy: approx. 4 credits (individual accreditation)
• Latvia: 11 hours
• Lithuania: 11.5 hours
• Netherlands:  approx. 11.25 points (individual accreditation)
• Norway: 11 points
• Poland: 11.25 hours
• Portugal: 11.25 hours
• Serbia: 5 hours
• Slovakia:  8 points
• Slovenia:  50 points
• Spain: CAC: 11 hours, IAE: 11 hours
• Switzerland:  15 points
• USA: SOA (Section B): up to 13.20 hours

No responsibility is taken for the accuracy of this information.

Fees & Registration Details

Early Bird Registration Fee (until 20 February 2026):

• For private customers: €1,193.10 (€970.00 + 23% VAT)
• For businesses with a billing address in Poland (with valid UID number): €1,280.00 (net, reverse charge applies)

Regular Registration Fee (from 21 February 2026):

• For private customers: €1,574.40 (€1,280.00 + 23% VAT)
• For businesses with a billing address in Poland (with valid UID number): €1,280.00 (net, reverse charge applies)

Important VAT Information:

• Due to tax regulations, we are unfortunately unable to issue invoices to businesses based outside of Poland. Please enter your private billing address when completing the registration form.

Please submit your registration using our online form below. We recommend registering for the seminar as soon as possible because of the expected demand. If there are more persons interested in this seminar than places available, we will give priority to the registrations received first.

Your registration is binding. Cancellation is only possible up to 6 weeks before the first day of the event. If you cancel later, the full participation fee is due. You may appoint someone to take your place but must notify us in advance. EAA has the right to cancel the event if the minimum number of participants is not reached.

Prepayment is mandatory. Please make sure you enter the correct and final billing details when registering. We will send you an invoice via email. Please allow a few days for handling and always give your invoice number when you effect payment. All bank charges are to be borne by the participant.

Registration is open until 14 April 2026. If registration has already been closed for this event, please call us or send an e-mail to contact@actuarial-academy.com in order to find out whether a late registration is still possible.

Venue & Accommodation

The seminar will take place at the hotel

Novotel Warszawa Centrum
ul. Marszalkowska 94/98
00-510 Warsaw, Poland
Hotel website

We have arranged special prices for accommodation. The special rate is PLN 560,52 per night, including breakfast and VAT. It is valid for bookings by 5 April 2026 out of our allotment “EAA Seminar”. Our allotment includes a limited number of rooms. Kindly book your accommodation directly with the hotel (we will send you a booking form), and note the hotel’s cancellation policy.