The future of cyber insurance – next steps for the London Market

This report by the City of London Corporation in association with Accenture identifies cyber insurance as one of the next key markets of growth for London, as the city and the UK emerge from the pandemic.

The National Cyber Security Centre recently published data covering September 2019 to August 2020 showing a 10% increase in cyber-incidents with 194 COVID-related. Business leaders have been faced with rising costs in cyber security. Approximately 69% of business leaders say that staying ahead of attackers is a constant battle and the costs are unsustainable.

London is well-placed to meet growing demand for cyber insurance and remain the pre-eminent global hub. It outlines how London’s cyber security ecosystem and insurance industry can collaborate to achieve this and the benefits it will have for the broader UK economy.