UK HM Government and Marsh: Cyber Security - The Role of Insurance in Managing and Mitigating the Risk

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UK HM Government and Marsh: Cyber Security - The Role of Insurance in Managing and Mitigating the Risk

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Maria Bada

UK_Cyber_Security_Report_Final.pdfDownloA report published on 23 March by HM Government and Marsh, one of the UK’s leading insurance brokers and risk advisors, announces new joint initiatives between government and the insurance sector to help firms get to grips with cyber risk; to establish cyber insurance as part of firms’ cyber toolkits and cement London as the global centre for cyber risk management.

The report, ‘UK cyber security: the role of insurance in managing and mitigating the risk’, has been produced in collaboration with the UK’s insurance market and a number of top UK companies. It aims to make the UK a world centre for cyber security insurance. In particular, it highlights the exposure of firms to cyber attacks among their suppliers with a key agreement that participating insurers will include the government’s Cyber Essentials certification as part of their risk assessment for small and medium businesses.