Alan Dainty, Cyber Risk Director at Thomas Miller Specialty, asks the question.

Commercial organisations may still believe they are unlikely to fall victim to a cyber-attack. However many incidents are not targeted and are often initiated by something as simple as a staff member clicking on a link in an innocent looking email, or accessing a web site that appears to be legitimate.

Once triggered, such malware is designed to spread around the computer network and will quickly start to infect any connected devices.

The malware may be intended to steal information or, as in recent incidents, disrupt your business by locking files and then demanding a ransom payment to unlock the data. If you are able to swiftly detect and contain the malware the impact may be small but if the outbreak is wide spread the effect on your business can be severe leading to significant Business Interruption, income loss and expense to investigate and remediate the issue.

Cyber Insurance may on its own not be able to prevent such an incident occurring, but it can provide cover for your financial loss and provide expert incident response assistance such as crisis management, forensic expertise and public relations expenses.

On behalf of Lloyd's Underwriters, Thomas Miller Specialty provides a cyber risk insurance product which helps its customers respond to this key business risk. Apply for cyber insurance here: Cyber and E-Crime Insurance

Our cyber product provides more than cyber insurance. It also helps our customers feel more secure about their data and information technology security and their professional response to cyber incidents, when they happen. Cyber services are available here: Partner Services

Members can also refer to the Club's cyber security resource page.