The Best Cyber Insurance Companies
in the UK | 5-Star Cyber

New age insurers

In an evolving sector with ever-present threats, it is imperative that brokers fortify their clients’ coverage with the best and most robust cyber insurance policies.

IBUK’s 5-Star Cyber providers have developed some of the most comprehensive cyber policies on the market that brokers are confident delivering to clients.

“You have a lot of businesses potentially sitting on a ticking time bomb who don’t know where to turn when they suffer a breach,” says Chris McMurray, managing director of cyber at 5-Star winner Travelers Europe. “We need to educate not only our  clients but our brokers as well.” 

During a 15-week process, IBUK conducted extensive research, uncovering what brokers consider the most important factors when selecting a cyber policy.

Highlighting the challenges faced by IBUK’s 5-Star winner, Asaf Armoni, co-founder and CTO of the Cyber Insurance Academy, says, “It’s like a constant dance to match the rhythm of emerging threats and legal moves. It’s a dynamic space, and the market requires them to navigate, stay sharp and be responsive to the twists and turns of the cyber risk landscape.” 


Travelers Europe – competitive edge

“The cyber market has had many new entrants globally in recent years, but few have the history and track record that Travelers brings to its clients,” says McMurray. 

Alongside its policy, the firm focuses considerable resources on:

  • pre-loss piece

  • post-breach response

This is demanded by the market, as David Cobb, technical director of brokerage Verlingue UK, says, “The most important feature of any cyber policy is the breach response. Without a doubt, unless the breach response is first class, there’s no point in going any further.”

Cyber brokers’ view

Brokers shared with IBUK the areas in which they feel cyber insurers could extend their services. Some of their comments were:

  • “Enable clients to bring their systems up to scratch, thus reducing the chance of a claim.”

  • “Clarity as to what is covered and the essential risk management features prior to quoting.”

  •  “Cyber insurance needs to be understood as a service contract that responds with the emergency expertise needed following a breach.”

Luke Abbots-Darbyshire, client executive – crypto and tech risks at Verlingue UK, shared his view on what brokers look for in the cyber sector.

He says, “When cyber policies first came about, there wasn’t much clarity between first-party or third-party elements of cover. We’re seeing more and more policies now that are differentiating between the two. And really highlighting what elements of cover there are, which is good because it avoids ambiguity.”
Being aware of new dangers and staying current is another key factor for brokers.

Cobb says, “In an evolving threat market, it’s important for insurers to keep up to speed. If they’re helping the insured from day one onwards, it will in turn help the insurer not have claims and therefore be an investment in the long run.”


Travelers launched its first insurance policy for online banking back in 1997 and has remained a few steps ahead in the cyber sector.

McMurray says, “That experience allows us to offer our insureds consistency in terms of understanding the importance of mitigating the cyber exposures our clients face with our tailored pre-loss services, for example.” 

The firm has a strong name in the US, is already in the top five global markets for cyber and has successfully made a concerted effort to highlight this in the UK.

“We have spent a lot of time out there with our brokers getting the word out about what Travelers can actually bring to the party, not just in terms of the product itself but everything that goes along with the product,” says McMurray. 


Not only does Travelers’ seasoned cyber presence set the company apart, but it also adopts a unique approach that is adaptable to market trends.

“No two breaches are the same. So, we’ve got to make sure that we cover every risk that could be tapped into,” McMurray says.

While some firms struggle to find an identity, Travelers has a strong DNA as an underwriting firm.

“We believe in taking a holistic approach when looking at a potential risk. If a potential client has one or two areas where we feel they could improve their cyber security, rather than just declining that risk, we will aim to offer a solution that benefits the client by making them a better risk,” says McMurray. “In turn, this allows us to use our experience to continue to be consistent in our approach.” 

One broker respondent emphasised to IBUK why this approach by Travelers is so valued.

He says, “Appetites need to start broadening, and insurers need to start actually underwriting these risks; otherwise, we are leaving these clients without the safety nets they need to transact business in the modern world.” 


Chris McMurray
“If you look at our policy from 10 years ago to now, it looks very different, and I’m sure that will continue changing. Our vision is to play a leading role in that change and to make sure we continue to offer market-leading solutions to our clients”
Chris McMurrayTravelers Europe



While new and emerging threats dominate the cyber landscape, the firm offers its clients the opposite experience.

McMurray says, “Travelers is a safe pair of hands. We don’t believe in wild fluctuations in cover or pricing from year to year. We give the client that consistent piece of mind that perhaps not all markets do, although it doesn’t mean that we’re not continually looking for ways to do things differently; we are not content to stand still.”

This is underlined by the recent acquisition of cyber insurance managing general underwriter Corvus for $435 million, which McMurray believes will have a big impact for clients.

He says, “This acquisition will build upon strong growth plans we already had in place and allow us to utilise different experiences and knowledge to continue improving our offering and how we distribute and tailor our product. This will also make us a top 3 market for Cyber in terms of GWP globally, so we’re in a strong position to lead the cyber market through what promises to be an exciting period of evolution.” 


When a client requires post-breach assistance, Travelers provides:

  • 24/7 helpline available 365 days a year  

  • breach response coaches to manage the incident

  • notifications, including the legal aspect of the breach

Travelers is constantly evolving its vendor response panel to include risks such as:

  • forensic investigation

  • forensic accounting

  • data recovery

“Our claims service and breach response is at the heart of everything we do. We work with a select group of vendors who are well known and established in the field, and we then have confidence that we’ll be able to deliver a top-class response to our clients,” says McMurray. “But also, as the book grows and cyber exposure grows, they will have the capacity, should there be, for example, a large systemic event, to deal with a number of insureds at the same time.”  

In addition, Travelers offers additional support:

  • Cyber Resilience Readiness Assessment tool – an online evaluation of security risks, covering malicious attackers to well-meaning insiders

  • cyber consultations – policyholders can schedule a private one-hour meeting with a cybersecurity professional to receive actionable security advice


The 5-Star Cyber winner stands out for its vigilance via its additional support functions, which include:

  • personalised threat alerts

  • cybersecurity advice

Using data from threat intelligence feeds and the dark web, CFC uses its app to notify clients of any threats targeting their business.

“We understand how to help and support our clients when an attack does happen. But we can try to prevent the attacks from happening in the first place. To me, that’s the most exciting part of our product offering,” says Philippa Berry, cyber product leader.

CFC also benefits from doing its claims handling and breach response in-house.

Berry says, “That means we have a rapid feedback loop. We know very quickly what’s happening in the market and the latest threats our clients are facing.”


The Best Cyber Insurance Companies in the UK | 5-Star Cyber

  • AIG
  • Aviva
  • CFC
  • Coalition
  • NMU
  • Optimum Speciality Risks
  • Pen Underwriting
  • QBE


As part of our editorial process, Key Media’s researchers interviewed the subject matter experts below for their independent analysis of this report and its findings.



To select the best cyber insurers for 2024, Insurance Business UK enlisted some of the industry’s top experts. During a 15-week process, the IBUK research team conducted one-on-one interviews with specialist brokers and surveyed more within the publication’s network to gain a keen understanding of what insurance professionals think of current market offerings.

Brokers were first quizzed on what features they thought were most important in a cyber insurance policy and then asked how the insurers they dealt with rated those attributes. Insurers were measured on the strength of their relationships with brokers, their ability to handle claims, their underwriting expertise, and, most importantly, the strength of the individual products they provide.

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