On the 15th April we were delighted to welcome John Cross from Glenham Underwriting Limited who spoke to us about Cyber Security
Hardly a week goes by without headlines about the threat that exists from breaches of cyber security and the topic is very much on the radar of the Guernsey Financial Services Commission and the States of Guernsey, both of which have undertaken reviews in this area.
A recent IOD and Barclays UK study revealed widespread under-reporting of cyber attacks (only one third being reported to police), 68% of businesses report being sent bogus invoices by email and business groups are predicting a cyber paradox with companies returning to traditional ways of communicating and storing information.
Our speaker, John Cross, of Glemham Underwriting Limited, outlined how insurers are responding to businesses and individuals becoming increasingly exposed to this threat. He talked about Guernsey’s position in relation to the use of data, IT and connectivity, the likelihood of cyber attacks happening in the local business environment and what insurance mechanisms can be put in place to protect us from them.
To view John's presentation - click here