With the COVID-19 lockdown forcing companies to switch to a work-from-home environment, it is not surprising that many customers are concerned over cyberattacks. Now new insights have been offered into what is preventing companies from taking action.
According to the Government’s response to the Cyber Security Incentives and Regulation Call for Evidence, to which the British Insurance Brokers’ Association (BIBA) gave its insights, the three barriers preventing organisations from improving their digital resilience were affirmed as including inability (such as not knowing what to do, as well as not having the right skills and resources), a lack of commercial rationale to take action, and a complex and insecure digital environment.
“The government response shows the majority of respondents (over 70%) agreed with each of these three barriers,” BIBA said.
The government’s report also proposed two additional barriers preventing organisations from improving their digital resilience: lack of incentives to support organisations to take action, and insufficient regulation to compel organisations to manage cyber risks better.
“BIBA will continue to engage with the Department for Digital, Culture, Media and Sport; the National Cyber Security Centre; and H.M. Treasury to support the uptake of cyber insurance and the role of brokers as trusted advisers,” BIBA said.