IFA Magazine - Is claims frequency giving the full picture in cyber insurance?
Cyber insurance is often judged by what happens when a claim is made. But is claims frequency alone really the best measure of value?
In a recent feature for IFA Magazine, Duane Folkard, Lead Cyber Underwriter at rrelentless, examines why advisers and businesses should look beyond traditional claims metrics when assessing cyber risk and insurance effectiveness.
The article explores how cyber insurance is evolving from a product focused solely on financial recovery to one that actively helps organisations reduce risk before an incident occurs. From cyber awareness training and vulnerability scanning to legal support and guidance on cyber resilience, many policies now include services designed to prevent claims rather than simply respond to them.
Duane also discusses why client outcomes, incident response capabilities and ongoing risk
management may provide a more meaningful view of cyber resilience than claims frequency alone. As cyber threats continue to evolve, businesses and advisers increasingly need to consider how well a policy helps an organisation identify, manage and recover from cyber risks.
Read the full article in IFA Magazine to discover why a broader approach to cyber insurance could help advisers deliver greater value to their clients.
Read the full article: Is claims frequency alone giving an incomplete picture in cyber insurance?
