Ep192 James Burns CFC: Classifying Cyber

We tend to take the institutions that serve our industry for
granted. It almost seems that the hundreds of industry trade and
standards bodies have always been there. So that’s why this
episode is so interesting. Today’s guest is working on setting up
the world’s first cyber loss classificatory body that from
1.1.2024 will serve the UK insurance and reinsurance industry and
the wider UK society that it is supporting. We don’t do this very
often so my chat with James Burns, Head of Cyber Strategy at
UK-headquartered cyber and specialist MGA CFC is a unique chance
to be in on the ground floor as an industry leader seeks to solve
an emerging problem in the risk landscape. The cyber world and
its insurers need be able to classify the severity of the
systemic loss events that it is facing if they going to be able
to continue to grow and fufill the needs of customers and society
as a whole. But just how do you go about creating a pan-industry
pan-societal body with a mission to work in the best interests of
all? James’s answers to this question are fascinating. His
expertise and gravitas, mixed with optimism and idealism are a
highly effective and infectious combination. So if you are
feeling jaded and thinking that what insurance does is sometimes
a little uninspiring I can highly recommend a listen. This is an
Episode to remind you that our industry is absolutely essential
for solving some of the biggest problems of our age. LINKS:


The Cyber Monitoring Centre doesn't have a website yet But James
is happy to be contacted by anyone looking to get involved. Here
is a link to a very well-circulated article he posted to
LinkedIn. You can connect to him via his profile:


https://www.linkedin.com/pulse/solving-systemic-risk-cyber-markets-number-one-priority-james-burns%3FtrackingId=poupsOrSSTOlgB8stV6E4g%253D%253D/?trackingId=poupsOrSSTOlgB8stV6E4g%3D%3Dhttps://www.linkedin.com/pulse/solving-systemic-risk-cyber-markets-number-one-priority-james-burns%3FtrackingId=FADb4wFXTYaPoFKgLIEjHw%253D%253D/?trackingId=FADb4wFXTYaPoFKgLIEjHw%3D%3D
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com/ We also thank our audio advertiser,
Aventum Group Please contact them on: voi@aventumgroup.com