“It’s not a nice-to-have, but the market does need to mature”
Marion Stewart, CEO, Red Helix
Do you agree with the ABI’s assertion that every company should have cyber insurance?
The ABI’s latest data highlights just how significant cyber risk has become for UK businesses – a threefold increase in cyber-insurance claims in 2024 underlines the growing frequency and sophistication of attacks. Cyber insurance is now an essential component of any organisation’s risk management strategy, not a nice-to-have.
That said, the market does need to mature. Insurers should be recognising and rewarding businesses that invest in robust cyber resilience – from strong identity management and regular patching to staff awareness and tested incident response plans. Organisations that demonstrably reduce their exposure should see that reflected in lower premiums.
What role do MSSPs like Red Helix play in cyber insurance?
As a managed security service provider, our role at Red Helix is to help customers strengthen their security posture so that insurance becomes a safeguard, not a substitute for good cyber hygiene. Encouraging this kind of responsible approach will ultimately lead to a healthier, more sustainable insurance ecosystem for both providers and policyholders.
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