Mitigating cyber security exposures: risk transfer through cyber insurance

Now may be the time to review your cyber risk mitigation strategy and give serious consideration to whether the financial cost of cyber attacks could be transferred to insurers at a fair price.

Cyber security is amongst the leading risks for organisations around the globe. In the last few years most organisations have suffered cyber attacks of some sort and a series of notable breaches have received heavy media coverage and regulatory scrutiny. Breaches damage not only organisations but also their customers. 

Governments have started to wake-up to the potential national security and economic impact of cyber attacks, and legislative change is afoot in a number of jurisdictions. 

To date relatively few organisations (outside the US) have purchased standalone cyber insurance policies. That appears about to change. For more from our Insurance team, click here.