As consumers and businesses embrace technology they are revolutionising the way they communicate. They are becoming more reliant on computers and social media and the insurance industry is using more data sources. We need to ensure that data protection and ownership are given greater consideration.

SMEs might believe that because they are small, they will not be a target for hackers, however that may make them even more of a target.

They often have less cyber security in place than large organisations making them easier to attack. SMEs are also often part
of a supply chain with larger firms and so present a back-door into bigger organisations with more sophisticated cyber security in place.

BIBA is an active member of the Cabinet Office’s Cyber Insurance Industry Forum. More businesses than ever before are being attacked, hacked or having sensitive data lost or stolen.

The Government’s Cyber Essentials scheme aims to provide a platform of cyber-hygiene that firms can build upon, reducing their risk of attack.

The Cyber Security Information Sharing Partnership (CiSP) will help alert businesses to the latest threats and confidentially share information relating to attacks.

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A BIBA Broker's Guide to Cyber Risks

Media and technology are revolutionising the way we communicate and changing the way businesses operate and grow.

This is giving rise to a new breed of risks that are not covered by traditional insurance policies. Cyber crime, cloud computing, inadvertent loss of sensitive data, and business system damage and interruption arising from the use of email, the internet and social media are just a few of the risks faced by companies today.

BIBA's Commitments on cyber risks

Each year BIBA campaigns on a number of issues and commits to a series of actions - these calls for action and commitments can be found within our manifesto.

Find out more in the BIBA 2017 Manifesto

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