Briefing: Provision of cyber insurance can help industry position itself as a ‘problem solver’

problem solving, cyber attack

However, for the cyber insurance market to become truly sustainable, an influx of capacity is sorely needed

According to the Bank of England’s Systemic risk survey for 2022’s H2, published in October 2022, cyber attacks remain the most cited risk to the UK financial system across the 65 respondents that participated in the biannual survey.

This shows that UK companies are increasingly nervous about the threat of cyber attacks, meaning that the sustainability and development of the cyber insurance market is vital if organisational demands are to be met.

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