Raising the bar in cyber insurance

Assured is a trusted cyber insurance broker that helps businesses protect against cyber risks. Our team of experienced cyber brokers offer customised solutions to fit your unique needs. Cyber is a risk like no other and requires a specialist’s attention. We provide exceptional planning, solid policies and security progression to protect businesses before, during and after a cyber incident. The landscape of cyber threats continues to evolve, necessitating a proactive approach in mitigating potential risks. In response, the insurance industry is stepping up efforts to raise the bar in cyber insurance coverage. Here are some key aspects in this pursuit:

1. Comprehensive Risk Assessment: Insurers are investing in sophisticated risk assessment methodologies to better understand their clients’ cyber vulnerabilities. This includes evaluating factors such as network security, data protection measures, employee training, and incident response plans.
2. Tailored Coverage: Rather than offering generic policies, insurers are increasingly tailoring coverage to meet the specific needs of organizations. This may involve developing industry-specific policies, providing coverage for emerging threats like ransomware, or offering additional services such as breach response teams and cyber risk consulting.
3. Cybersecurity Education and Support: Insurers are actively promoting cybersecurity education and providing resources to policyholders. This may involve offering training programs, webinars, or access to cybersecurity experts who can guide organizations in implementing effective security measures.
4. Incident Response Planning: Insurers are emphasizing the importance of incident response planning as a proactive measure. Policyholders are encouraged to establish clear protocols for responding to cyber incidents, including steps to contain the breach, notify affected parties, and engage forensic investigators.
5. Collaboration and Information Sharing: Insurers are increasingly collaborating with cybersecurity firms, industry associations, and government entities to share information and insights on emerging threats. This collaboration helps insurers stay ahead of the evolving threat landscape and provide better coverage and risk mitigation strategies.

Overall, raising the bar in cyber insurance requires a holistic approach that combines robust risk assessment, tailored coverage, proactive education, incident response planning, and collaborative efforts. By continually adapting and improving their offerings, insurers aim to provide comprehensive protection in an increasingly complex cyber landscape. It is revolutionising cyber insurance. Assured is the only insurance broker in the UK focussing solely on cyber. With many insurance lines to manage, the general insurance broker doesn’t have the time to manage risk as complex as cyber. As the fastest evolving threat technology-dependent businesses face, cyber insurance must be much more than a one-time box-ticking transaction that rarely delivers value. Assured turns ‘I think I’m covered’ into ‘I know I’m covered.’ More than just a transaction. Our high-touch, consultancy-led service focuses on far more than creating the policy. Our clients benefit from our cyber knowledge and expertise from their first interaction. Sitting at the heart of the cyber industry, we work with several high-profile partners. Together, we are ideally placed to deliver real-time security feedback, incident planning and resilience enhancements, ensuring they’re ready to hit the ground running whenever the situation arises. Contact us today!  +44 (0)20 3854 4271/ hello@assured.co.uk