Cyber Insurers are looking for a Pink and Red Box
Recently our Sales Director Chris met with some senior general cyber insurance underwriters and also Shipping Insurers in #London.
Around 10 Cyber Insurance related companies representatives visited us at #Infosec recently when we were in the Innovation area – showing the general level of interest.
The underwriters confirmed that they were looking for a ” Black Box for Vehicles ” equivalent for the insurance industry for businesses ( and shipping ). The #RaspberryPi that we use when we put a physical sensor on a client site may be the answer.
They also confirmed that, directly and indirectly ( via brokers ) they are recommending to their clients to get continuous assessment of Cyber Essentials which will mean that
a) They are more likely to take the business ( because risk reduced )
b) will offer eg reduced premiums and incentives to clients that do.
Unsurprisingly some underwriters and brokers are pioneering in this area. One broker I met recently has had a 400% increase in cyber insurance business in the last year.
A lot of Managed Service Providers ( MSP’s ) are working closely with a local
I also see seminars being held that include, for example:
Cyber Essentials Certification Bodies ( if the MSP is not one )
The local Cyber Protection Officer ( CPO ) from the Regional Organised Crime Unit ( ROCU ).
Cyber Specialist Law Firms/Departments
Cyber Security and Data Backup OEMs.
This coming together of related parties to fight cyber attacks is a growing trend.