Cyber risk is now number one or very high on the threat matrix for many organisations. This report sheds light on the evolving landscape of cyber risk in the UK, how insurers can price cyber risk and four simple steps organisations can follow to proactively manage cyber risk.
In the Mintel Commercial Insurance Report published in 2016, cyber risk was not mentioned. Fast forward to 2018 and participants in a survey commissioned by CRIF with a leading insurance publication, Post Magazine, ranked cyber security as a higher fraud risk area than employers’ liability for commercial insurers.
Leading research company Gartner has found that senior business executives now recognise that cyber security has a significant impact on a company’s ability to achieve business goals and protect corporate reputation.
Business leaders have not always held this sentiment but the many high profile cyberattack incidents that have taken place across numerous sectors have served to change the thinking in the board room.
With the UK one of the most popular countries in Europe for hackers, this report sheds light on:
• The evolving landscape of cyber risk.
• Emerging threats including intellectual property and IoT.
• How insurers can price cyber risk.
• How organisations can proactively managing cyber risk.
• Cyber risk management in four simple steps.