Message from London Market Forums:

We are delighted to share with you some exciting news about the formation of a new Special Cyber Insurance Working Party, developed in partnership with the Police. This is a unique chance to be part of a small but enormously valuable Focus Group that will not only help create a Standard, used by the Police to advise SME businesses on the best approach to Cyber Insurance, but also create an opportunity for your firm to build a valuable relationship with the Police who interface with thousands of businesses through the UK.

In addition, the Police are considering the possible “endorsement” or “accreditation” of those firms who in the Group. This Special Group will meet four times, most probably all virtually. The first gathering (only 75 mins) will take place on Thursday 25th June at 2pm, 16th July, 10th September and 1st October.

The overriding mission of the focused cross Market Group Working Group is to ensure that SMEs are given some initial guidance by the Police, allowing the company to make some initial decisions about the purchase of Cyber Insurance, as well as have access to a number of trusted providers who can offer them cyber insurance that is appropriate for their level of risk. Overall, this is about raising the level of awareness of cyber insurance amongst the SME community, specifically via the Police, who engage with businesses extensively throughout the year. In London, The Police Digital Security Centre have embarked on a huge project in conjunction with the London Mayor’s Office and this has meant that they are in communication with thousands of businesses soon.

The Police are about to issue a Press Release, announcing this Working Group. After the fourth session, the Group can collectively decide if it wishes to continue meeting, periodically, to review the Standard, or disband.

We are enormously grateful to Cyber Risk Aware and CyGlass for supporting this Group. These organisations bring a wealth of knowledge to the Group and will be the only people involved, outside of the insurance market.