The UK Government and the insurance industry are collaborating to help bolster businesses’ defence strategies and establish the country as a leader in the cyber security insurance market.
The collaboration will see 12 major insurers coordinate in the creation of a comprehensive cyber security insurance model.
According to V3, Cabinet Office minister Francis Maude explained that the model will be used to mitigate the damage caused by cyber attacks to firms of all sizes, and act as a catalyst to inspire companies to adopt more robust security models.