The International Underwriting Asso-ciation (IUA) has elected a chairman for its new digital risk working party.

Royal & SunAlliance (R&SA) underwriter and claims consultant David Ovenden will head up the committee to identify potential problems new technology can cause to reinsurers.

In September, Insurance Times revealed the IUA was forming the committee in response to reinsurers' concerns over technological threats such as the Melissa virus.

Two weeks ago, the group had its first meeting and agreed its remit, which includes supporting members to protect themselves against difficulties related to e-commerce and discussing how reinsurers can offer insurance to cover cyber liabilities such as hack attacks.

The working party, which aims to demystify digital risk, has also decided to hold a half-day seminar and issue a code of best practice. Its committee members are:

  • Chris Baines, Mi2g director of business development
  • Mark Baker, IUA manager, committee support
  • Geoff Banks, Gerling manager and property underwriter
  • Roy Brown, IUA manager, information technology and communications
  • David Umbers, Safeonline product development team
  • Andrew Shefford, Ernst & Young senior manager, information systems assurance and advisory services
  • DK Matai, Mi2g chairman and chief executive officer
  • Michael Wrightman, XL Re deputy casualty underwriter
  • Andrea Pound, IUA spokeswoman.

    The next meeting will take place on 8 December, when the working party will discuss its terms of reference.

    Committee secretary Andrea Pound said: "We would love to have more representatives from companies, as it is really a chance to facilitate the sharing of information and find out how we can benefit from each other's experience."

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