Essential Services: Large-scale Technology

Lord Stevenson of Balmacara Excerpts

Tuesday 12th January 2021 Lords Chamber

[Lord True (Con)]

My Lords, at my level in Government I will not comment on the final part of the noble Lord’s question. He is right that malign cyber activity, including by states, is an ongoing concern. In the Cabinet Office and across Government we are maintaining our capability to respond to major cyber incidents, and the National Cyber Security Centre and law enforcement cyber specialists are active in supporting critical organisations in the UK, including outside government.

[Lord Stevenson of Balmacara (Lab) [V]]

My Lords, the Ipsos MORI research on understanding the full cost of cyber breaches, published by DCMS last year, points out that the current lack of accurate data makes it very difficult for SMEs in particular to get insurance for such events. Will the Government consider backing a cyber breach reinsurance scheme, based on the successful Pool Re and Flood Re reinsurance schemes, over this interim period?

[Lord True (Con)]

My Lords, once again this is slightly outside my area of responsibility, but the interests of SMEs are always of great concern to the Government and I will pass the noble Lord’s suggestion on to appropriate colleagues.