In-depth - cyber: Are brokers protecting themselves against cyber risks?
As well as selling the benefits of cyber insurance to clients, brokers must show the way by being ready for any data breaches or cyber attacks. Sam Barrett reports
With just 11% of UK businesses covered by cyber insurance, according to figures from the Association of British Insurers, brokers have an important role to play in increasing take-up. But, to be successful advocates of the product, it’s important that they take their own cyber risk seriously.
“If you’re extolling the virtues of a cyber insurance product and you’re hit by a data breach, it can look really bad,” says Ed Lewis, cyber insurance specialist at law firm Weightmans. “Brokers need to
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