Business Interruption Risk:
A One-Year Reflection on M&S

Thursday 14th May
08:30 – 10:00
Los Mochis, 100 Liverpool St, London EC2M 2AT

We are hosting an exclusive breakfast session focused on the realities of business interruption (BI) risk in today’s cyber landscape.

Ed Ventham, Head of Broking at Assured, joined by Ben Hobby, Lead Forensic Accountant at Baker Tilly, and Rich Taylor, Head of Cyber at Aviva, will explore how organisations can quantify BI exposure and ensure their insurance programmes respond effectively.

The discussion will cover key considerations such as indemnity periods, period of restoration and loss of income. We will also examine the critical role of forensic accountants in supporting and validating BI claims, as well as how organisations can better prepare in advance.

Drawing on lessons from last year’s M&S cyber incident, the panel will reflect on what has changed and what is yet to evolve. They will scrutinise the operational challenges and hidden costs that can emerge during recovery.

This event is designed for senior leadership, providing practical insight into how to strengthen resilience and ensure financial protection aligns with real-world risk.

Agenda:

08:30 – 09:00 – Welcome breakfast
09:00 – 09:45 – Panel discussion
09:45 – 10:00 – Q&A

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Actionable takeaways:

Insight into points of exposure: How to quantify real business interruption exposure
Clarity on BI cover: What your policy will (and won’t) respond to
Understanding what really drives loss: With M&S as a case study, you will gain a more in-depth understanding of the financial impact of downtime, inefficiencies, and hidden costs that impact recovery

Speakers.

Ed Ventham
Head of Broking at Assured

Ed has 12 years of insurance experience, with the last decade focused solely on cyber. He leads Assured’s broking function and remains hands-on with complex enterprise placements.

He has contributed to the NCSC Industry 100 programme and Lloyd’s Target Operating Model team, and works between London and Amsterdam.

Ben Hobby
Lead Forensic Accountant at Baker Tilly

Ben Hobby is a principal with Baker Tilly’s forensic, litigation and valuation services practice. For two decades, Ben has handled losses and investigations of various scopes and sizes for insurers, lawyers and corporations across the globe.

His expertise focuses on physical and non-physical damage business interruption with a particular focus on cyber related matters, where he has managed some of the largest and highest profile cyber business interruption claims handled by the London insurance market.

Ben is a former chair of the cyber claims committee at the International Underwriting Association, which addresses issues relating to the handling of cyber claims in the London insurance market.

Richard Taylor
Head of Cyber at Aviva

Rich Taylor leads all Cyber and Tech E&O operations at Aviva. With more than 15 years of insurance industry experience, Rich has worked across global underwriting teams focused on traditional and emerging Cyber and Technology E&O risk products in sectors including finance, healthcare, retail, technology and energy.

Rich joined Probitas in April 2022, where he served as Head of Cyber and Technology. Prior to that, he was a Senior Cyber Underwriter at Munich Re, underwriting cyber risks for first- and third-party damages across multiple industries. During his tenure, he also helped launch the Munich Re Syndicate Cyber team in 2016.

Business Interruption Risk: A One-Year Reflection on M&S