“In a world of when not if, insurance is essential”
Ian Thomas, CEO, Sapphire
Do you agree with the ABI’s assertion that every company should have cyber insurance?
I agree, every business should have cyber insurance. I often hear from firms that it’s very expensive or they are having difficulty getting cover. This is a big red flag to me, suggesting that the security basics aren’t in place and so getting cover becomes difficult….the equivalent of trying to get home insurance without window and door locks or car insurance without an alarm.
The cost of recovering from an attack can be astronomical and whilst I understand why struggling businesses might see insurance as non essential, in a world where a cyber attack should be thought of as when not if, insurance is essential. And for small businesses, gaining Cyber Essentials Plus comes with free insurance.
What role do MSSPs like Sapphire play in cyber insurance?
We can help with cost effective ways of increasing coverage and lowering premiums by putting the basics in place and guiding companies on the measures that make a difference and those which don’t.
Article continues on following page…
