Has cyber reached a tipping point with new entrants and incumbent product pushes?
Against a backdrop where the Financial Conduct Authority has warned the cyber insurance market over its concerns on policy wordings, a recent survey has found over one-third of brokers are still not selling this product. Siân Barton mulls whether a raft of new entrants and insurer education drives might change things.
There is no excuse for generalist brokers not to be selling cyber insurance. This was the opinion of regional broker Peter Robinson, founder of Prizm Insurance.
He came out swinging, arguing that brokers that did not have cyber as part of their product suite were doing a disservice to their customers.
According to Robinson, there was a wealth of cover, policy types and – crucially – training material available to enable intermediaries to confidently sell this type of insurance.
“They should be
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