Cyber resilience and insurers: the FCA is awake, are you?


Cyber resilience and insurers: the FCA is awake, are you?

David Roberts, event director at GovNet, organiser of the 16 November Cyber Security Summit and Expo, and co-located GDPR Conference in London previews the event.

From ransomware to phishing attacks and mass data leaks, the varied and complex risks that cybercrime poses to financial businesses, including insurance companies, should be high on any CEO’s action and review list.

The fact that cyber risk is also firmly on the radar for the Financial Conduct Authority (FCA) should also help with prioritising. Whether you work for one of the largest, global insurers or brokers, or a small-to-medium-sized enterprise, the FCA maintains that it is your responsibility to be aware of the threat from cybercrime, to defend your business and its data effectively, and to respond proportionately to cyber attacks or events.

Leading insurance operations are keenly aware of the risk of cybercrime of course, and offer cyber coverage and risk management support to clients. But insurers and brokers themselves must lead by example, and ensure their businesses follow best practice when it comes to protecting against cyber threats, and in particular protecting the integrity and security of the precious business asset that is their client data.

FCA, Cyber Security Summit and Expo, GovNet, David Roberts, Insurance, Cyber risk, London

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