The majority of off-the-shelf specialist cyber insurance policies have “major flaws” and some companies are being “mis-sold” policies.
This is according to insurance governance consultancy Mactavish which has launched a Cyber Risk Consulting Practice for corporates.
The organisation also warned that some firms require entirely different cover to what they are sold and accused insurers and brokers of using “strong sales tactics and scaremongering” to encourage companies to buy cyber policies.
- Three insurance firms on FSCS insolvency list
- Aston Lark confirms Goldman Sachs investment deal
- Blanc expects Goldman Sachs to invest in Aston Lark for 'at least five years'
- Aspen Risk Management to be placed in runoff
- Aviva continues to top Brokerbility members survey
- Esure hires former Aviva UKGI boss David McMillan as CEO
- Blog: The DNA of brokers is changing