UK Government Report On Cyber Insurances

The UK Government published a report regarding the management and mitigation of cyber security risks with cyber insurance.

It details how insurers and insurance can play a role in reducing cyber security risks. The government report notes that there is a lack of awareness that insurance is available for cyber risk and recommends that firms review their cyber risk management to include a board-level assessment for cyber risk, and draw up recovery plans and use stress testing to confirm financial resilience against cyber threats. The report also gives details of its new industry supported scheme, Cyber Essentials, which was developed as part of the UK’s National Cyber Security Program and guides businesses in protecting themselves against cyber threats