UK cyber insurance

UK Cyber Insurance Guidance, Simplified.

Marketplace confusion, overwhelming tool choice, policy lock-outs, and more – the UK’s climate toward risk is increasingly challenged by threat abundance and sophistication. And this can make it more challenging for businesses like yours to secure cyber insurance or liability planning.

But what do you do with risk? 

Many are trying to understand the role of cyber insurance and how it can influence risk and liability. One of the critical building blocks in securing a policy, or lowering premiums for existing policyholders, is to align your business with proper technical controls. This means asking the right questions about cyber security products and tools and how they configure into your IT estate.

CSI’s Guidance on Cyber Insurance 

Our experts are having a different conversation with security – we understand how rapidly and aggressively various risk types can influence a business’ key IT decisions. Our goal is to support UK businesses and slow down the effects of risks in delaying or disrupting meaningful transformation.

Find out how our certified cyber security expertise can support your business – whether you’re new to cyber insurance, or want to simply demystify the road to getting coverage.

The Challenge with Cyber Insurance.

The ‘hardening’ of the cyber insurance market has created the first major issue with getting insured. But the challenges with cyber security don’t end there.

Many businesses will find at least one area of vulnerability not covered in their existing cyber security strategy – and that can be the entry point for risks and more.

CSI has identified, simplified and prioritised the core challenges that most UK businesses will share as they close in on cyber insurance. →

#1. Costs are rising 

Premiums are ballooning and this will cause reluctance to cover risks traditionally. Boardrooms are even hesitant to grow cyber budgets to match the risks outside – even harder is the riddle of where to spend your cyber security budget.

#2. Major shortage of cyber skills inside and out

It’s not just a training issue with your talent, but hiring skills from the outside is increasingly tough as fewer cyber professionals are available on the labour market.

#3. Insurer selectivity 

The hardened insurance market is creating selectivity amongst those industries who qualify for coverage.

#4. Perception of cyber insurance

You can’t simply transfer risk to an insurer. So, what are you hoping to gain from cyber insurance?

Let’s Talk Tools.

Building up, and reinforcing, your environment with the right arsenal of cyber security tools is a challenge that many businesses don’t even know they face.

Some environments might be overwhelmed with tools; in other scenarios IT professionals might find the market confusing to navigate. Either way, technical controls are a default in any strategy to remediate, manage and address risk. But did you know that tool misconfiguration can create a vulnerability just as capable as causing devastation as a strategy lacking technical controls? 

Cyber security tools need expertise to align with value – and insurers know this. CSI’s cyber security consultants work closely with businesses, especially those in regulated industries, where there is a requirement for cyber insurance. Our expertise has the flexibility to address the key concerns – and when it comes to cyber security tools, we can help simplify your protection options, deploy (or configure) tools, and even guide on best practices that have been suggested to improve cyber insurance acceptance.

Book a call today to learn how we can help unlock value from your cyber security tools.