A group of European industry bodies — BIPAR, FERMA and Insurance Europe, in association with Aon and Marsh — has published a guide to help organisations understand their cyber risks and potential need for cyber insurance.
The guide “Preparing for cyber insurance” outlines how organisations with an interest in accessing cyber insurance can best prepare for discussions with insurance intermediaries and insurers. It also provides tools to help organisations evaluate cyber insurance offers and how they may translate in practice.
While recent cyber events have made organisations much more aware of the cyber risks they face and more conscious of the need to manage their cybersecurity exposure, many companies still struggle to translate their cybersecurity concerns into concrete action.
Cyber insurance is part of a range of options available to organisations to build up their cybersecurity and resilience. The solutions typically offered by insurers do not only include insurance coverage, but also prevention advice and mitigation support in the event of a cyber-related incident.
Onno Janssen, Aon’s Chief Executive Officer of Risk Consulting & Cyber Solutions EMEA: “The growing cyber threat and its potential impact continues to generate concern in boardrooms, with the need for leaders across business functions to take an enterprise-wide approach to cyber risk. Organisations should make an informed decision when considering cyber insurance, and how it responds to their cyber risk scenarios, so that they can prepare for, and mitigate against a cyber incident.”
Press release
Guide
© InsuranceEurope
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article