IFA Magazine: Cyber insurance uptake - why broker education is key to market growth

Despite rising cyber threats and escalating attack costs, uptake of cyber insurance remains low - below 10% in some markets. In a recent feature by IFA Magazine, rrelentless offered perspective to the discussion around why this gap exists and how brokers can play a pivotal role in closing it.

Featuring cyber underwriter, Gavin Shillito, the article explores slow adoption including misconceptions about coverage, lack of awareness among some SMEs, and the belief that cybersecurity alone can be enough. These circumstances can leave organisations exposed, especially as, for example, ransomware and phishing attacks become more sophisticated and costly.

The article covers the benefits of educating brokers and clients, ensuring they understand the true value of cyber insurance - not just as a financial safety net, but as part of a proactive risk management strategy. By equipping brokers with the right tools and knowledge, the industry can help businesses build resilience against evolving threats.

Want to learn why broker education is critical and how it can transform the cyber insurance market? Read the full article Cyber Insurance Uptake Is Reportedly Below 10% – Why Broker Education Is Key to Market Growth in IFA Magazine.

rrelentless is one of many providers of cyber insurance, and that like most commercial insurance products, getting advice from an independent insurance intermediary is a great way to make setting up your insurance needs straightforward.