There’s a new good practice guide from the Society of Insurance Broking (SIB).
In June the dedicated society published an internal audit resource; now it has released a good practice guide for brokers on the subject of cyber insurance. It delves into the origins of cyber, why it’s a growing issue, and what is covered by cyber policies.
The SIB good practice guide also shines a spotlight on incident prevention as well as other cyber concerns brokers should be on the lookout for. In addition, the material offers insights on how to ensure that the coverage brokers recommend suits clients’ needs.
More importantly, key priorities for broking cyber security cover are outlined in the document. It is available on the SIB website.
“Cyber is not going to go away, especially with the increasing reliance on digital technology and automation,” said the society’s non-executive director Liz Foster. “New and emerging technology will inevitably present new threats on top of those we currently manage for our clients.
“Insurance brokers must make sure that the cyber insurance coverage they present to their customers best meet their needs and continues to remain up to date.”