Cyber security insurance has been offered in some form or another for years. But with Lloyd’s of London recently claiming a 50% increase in demand, UK firms finally seem to be waking up to the benefits. On paper, it can provide much needed financial security in the event of a major data breach, DDoS attack or other cyber incident. But in the fast-moving world of online threats, corporate insurance policies can only go so far.
IT leaders must come to view cyber insurance as complementary to, rather than a replacement for, a comprehensive information security programme. Continue reading →
This is the most wonderful time of the year for IT analysts and commentators. You can’t move for bold predictions on what the year ahead might bring, so I thought I’d add my two pennies’ worth. The past 12 months has seen data breaches pile up with alarming frequency and the financial hit continue to rise. According to the 2014 Information Security Breaches Survey the cost to large organisations doubled from £450-£850k in 2013 to £600k-£1.15m this year.
What does this mean for the channel in 2015? I think it’s time for ambitious partners to take a look at “cyber insurance” – it could be a great way to differentiate, add value and increase margins. Continue reading →