MGAA: Beyond the payout – how cyber insurance is redefining its value

Cyber insurance has traditionally been viewed through the lens of claims and financial recovery. However, as cyber threats continue to evolve, increasing attention is being placed on the role insurers can play in helping businesses reduce risk before an incident occurs.

In a recent article for the Managing General Agents' Association (MGAA), Duane Folkard, Lead Cyber Underwriter at rrelentless, explores how cyber insurance is evolving beyond a purely reactive product and becoming a source of ongoing support for policyholders.

The article discusses the growing importance of policy-embedded services such as cyber risk guidance, legal support, incident response planning, cyber awareness training and access to practical resources that can help organisations strengthen their cyber resilience. It also examines why early intervention and proactive engagement can play an important role in improving outcomes when cyber incidents occur.

Duane also considers how insurers, MGAs and brokers can work together to support businesses in developing stronger cyber risk management practices, helping organisations become better prepared for an increasingly complex threat landscape.

For businesses, the conversation is increasingly moving beyond what happens after a claim and mgaa-beyond-the-payout-–-how-cyber-insurance-is-redefining-its-valuetowards how cyber insurance can help prevent incidents, support compliance and improve resilience from day one. Read the full article: https://mgaa.co.uk/rrelentless-beyond-the-payout-how-cyber-insurance-is-redefining-its-value/