Cyber liability continues to make the press, with examples of hacks into wifi systems, data leaks from Apple iCloud and alarming reports from PwC concerning British companies suffering in the region of 4,300 cyber-attacks each day. As companies become increasingly dependent on technology risk managers are becoming increasingly concerned about the possibility of cyber risk. Risks including computer fraud, accidental loss or theft of device, business interruption, operational error, data theft, hacking, viruses and violation of customer privacy are still being underestimated.
Corporates are gradually coming to terms with what was deemed an emerging risk less than four years ago but is now a major threat to businesses irrespective of their location or sector.
Underwriters have confirmed that those facing the biggest risk are the smaller businesses, where an incident could be catastrophic. At Arlington we are working closely with insurers to provide cost effective insurance solutions to this problem. For further information contact Rob Marriott on 020 7292 6014 / firstname.lastname@example.org