Insurance for Cyber events and related issues is still quite new. Insurers are still trying to:

  • Understand the risks that each client faces
  • Evaluate the possible costs relative to any breach/claim
  • Calculate a premium that will cover all claims during the insured period

It may well be some years before they have sufficient underwriting data to properly understand and calculate their exposure. A lot of claims will have to be made and paid before this accurate information is available.

You can present your business to insurers as a better than average risk if you follow the our suggestions outlined here-in. You might could benefit from wider policy terms and lower premiums in recognition of the efforts that you have taken.

You may decide that, with your new-found knowledge, insurance is not really required. Whilst we might understand such comment, we would not suggest you gamble with the unknown.

Useful links

  • BGi.uk Cyber web pages https://bgi.uk.com/cyber-risk-management/
  • Sample Cyber Policy Wordings
  • Cyber Training for ‘screen facing staff’ https://thedefenceworks.com/
  • Basic scanning of any company’s web profile outlining areas of weakness and vulnerability https://www.kynd.io/
  • In depth scanning of any company’s web profile outlining areas of weakness and vulnerability https://www.coraxcyber.com/
  • Full Cyber Audit to establish any weaknesses in any Company https://www.fifosys.com/
  • Secure e-mail, Registered e-mail; Signature required e-mail https://www.rpost.com/
  • Understanding and dealing with GDPR regulations https://dbxuk.com/our-services/
  • Data responsibilities summarised https://dbxuk.com/our-services/
  • GDPR regulations explained https://ico.org.uk/for-organisations/guide-to-data-protection/guide-to-the-general-data-protection-regulation-gdpr/
  • GDPR on-line course https://dbxuk.com/online-training/
  • Cyber Essentials – basic requirements https://www.cyberessentials.ncsc.gov.uk/
  • List of Cyber-threat terms and explanations https://thecyberwire.com/glossary.html
  • Video 1 demonstrating Cyber-risks https://youtu.be/yrjT8m0hcKU
  • Video 2 demonstrating Cyber-risks https://youtu.be/lc7scxvKQOo
  • Cyber articles relative to the freight forwarding and shipping services
  • Cyber Articles relative to Intellectual Property
  • Cyber Insurance Application form https://bgi.uk.com/cyber-insurance/cyber-insurance-forms/#bgi-cyber-proposal-form