Evolving Hong Kong Personal Data Privacy and Cybersecurity Risks and the Implications on Cyber Insurance Webinar Recap

On April 23rd, Hong Kong industry experts gathered to take a deep dive into the evolving landscape of cybersecurity and its implications for professional liability insurance. The event was divided into two main sessions: a keynote address and a panel discussion, both of which provided valuable information for industry professionals. Here are some key topics discussed during this virtual event:

Regulatory and Cyber/AI Landscape in Hong Kong
Ms. Joanne Wong, the Assistant Privacy Commissioner for Personal Data (Compliance, Global Affairs and Research) at the PCPD, shared her expertise on Hong Kong’s regulatory environment and the current cyber/AI landscape. She emphasized the importance of staying updated with regulatory changes and understanding the cybersecurity risks related to personal data privacy.

Cybersecurity Risks and Personal Data Privacy
Ms. Wong also highlighted the critical cybersecurity risks from the perspective of personal data privacy. She discussed recent incidents and key strategies for mitigating these risks, stressing the need for comprehensive data protection practices.

Implications for Professional Liability Insurance
The panel discussion, which included insights from an underwriter, claims professional, and legal expert, focused on the implications of cybersecurity for professional liability insurance. The experts addressed the complexities of coverage, claims handling, and incident response management, particularly in the context of technology errors and omissions, directors and officers liability, cyber insurance, and crime insurance policies.

Future Trends in Cybersecurity and Insurance
The webinar concluded with an analysis of future trends in cybersecurity and their potential impact on the insurance industry. The panelists urged practitioners to stay ahead of the curve by continuously updating their knowledge and adapting to the rapidly changing technological landscape.

Overall, the webinar provided professional liability practitioners with a comprehensive understanding of the current cybersecurity environment and its implications for their field. Participants left with actionable insights on regulatory updates, risk mitigation strategies, and the future of cybersecurity insurance.

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Meet the Speakers

Ms. Joanne Wong has recently joined the Office of the Privacy Commissioner for Personal Data, Hong Kong, China (PCPD). She serves as the Assistant Privacy Commissioner for Personal Data leading both the Compliance and Enquiries Division and Global Affairs and Research Division.

Ms. Wong graduated from the University of Hong Kong and is admitted as a solicitor in Hong Kong, New South Wales of Australia, New Zealand and England and Wales. She has over 12 years of post-qualification experience in legal and compliance field. She began her career in private legal practice, worked in a number of international firms in Hong Kong and Beijing offices before joining the PCPD.

Zi Lim is the FINPRO Regional Claims Leader (Asia). His key responsibilities include, but are not limited to, engaging in advocacy for complex and contentious matters for Marsh’s most important clients in Asia and providing FINPRO Risk and Consultative services across the region. In this role Zi fosters ongoing relationships with insurers, lawyers, and loss adjusters to facilitate the best claims outcome. Zi uses his skills as a former solicitor and his extensive insurance experience to facilitate optimal claims solutions.

Paul Wan is the Convener of Cybersecurity Specialist Group at the Hong Kong Computer Society (HKCS). With over 9,000 members, HKCS is a well-recognised non-profit organisation focused on developing Hong Kong’s Information Technology (IT) profession and industry. Members hail from a broad spectrum of Hong Kong’s IT community, from corporations to like-minded individuals, all coming together to raise the profile and standards of our profession and industry.

Moying Chap is an experienced cybersecurity and specialty lines loss adjuster with over two decades of expertise in handling complex claims across cyber, technical liability, and specialty risks. As the Co-Founder of Quantum, he leads initiatives in AI-driven solutions and innovative approaches to incident response within the insurance landscape. Previously, as VP Loss Adjusting at Blackpanda, he played a key role in developing frameworks to support efficient and data-informed cyber incident response. Moying’s work lies at the intersection of advanced technology and cybersecurity, providing responsive solutions to the evolving challenges of today’s digital landscape.

Michelle Ho is a Counsel and advises major international insurers on claims under D&O, professional indemnity, crime, employment, and other financial lines policies. She also focuses on commercial litigation, including shareholder disputes.

As part of her financial lines practice, Michelle focuses on cyber breaches and data breach response in Hong Kong, and regionally. This includes having recently assisting an international hotel chain facing a material cyber breach and ransomware attack, requiring notification under the GDPR regime and in multiple APAC jurisdictions.

Heidi Zeng leads Berkley Insurance’s Cyber practice across Asia. She has close to 20 years of senior underwriting and management experience for direct and reinsurance business with a background in Financial Lines and Commercial Insurance underwriting.