The Forum of Insurance Lawyers (FOIL) has today launched a new team with a brief to focus on the opportunities and challenges for the insurance industry brought on by the digital revolution.
FOIL’s Cyber & Digital Liabilities sector focus team (SFT) will focus on the impact of the cyber and digital risks facing the industry and society as whole, as well as consider the risks associated with autonomous vehicles, drones, AI, robotics and the internet of things amongst other developments. As with all FOIL SFTs, the Cyber & Digital Liabilities team will facilitate training and events, spearhead campaigns, act as thought leaders and demonstrate expertise to non-members and potential clients – all with a view to improving business understanding of these risks, and contribute to the wider conversation about such developments.
Kurt Rowe at Weightmans, will be Head of the SFT, with Helen Bourne at Clyde & Co, as deputy. FOIL created its SFT structure several years ago to align itself more closely with the operational structure of the insurance industry, thereby making these teams more relevant to the interests of members and their client base. Each team is made up of five to six lawyers drawn from different member firms who meet regularly and collaborate closely on their issues of focus.
Kurt Rowe commented: “The insurance industry has been at the forefront of technological advancements seen in society over the past few decades. Technology will continue to shape our industry providing both threats and opportunities – with new technologies come new risks, something that the insurance industry knows a great deal about. However at FOIL we have found there is a need for improved understanding within the market – across the board from consumers, SMEs to major corporates – about the benefits of cyber insurance and the wide range of risks such insurance can cover.”