UK - Anonymised database for cyber insurance
Tuesday, 05 24 2016, Category: Insurance and Reinsurance, Country: United Kingdom
The Association of British Insurers is calling for a national, anonymised database recording details of cyber incidents at businesses to be established in order to help the UK become a world leader in cyber insurance.
The not-for-profit database would contain details of cyber incidents including business interruption losses, ransom demands, loss of confidential data, and damage to IT systems.
Building on the requirement in the European Network Information Security Directive for certain firms to provide notification of cyber incidents from 2018, this data could be anonymised and made accessible to insurers who could then use it to improve pricing and potentially put the UK at the forefront of the global market.
Source: Intelligent Insurer