UK organisations continue to put more reliance in technology every day, but too many fail to make provision against cyber crime, which puts organisations and their employees at risk. We can protect the UK by making cyber insurance mandatory.
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Many organisations want cyber insurance but can’t afford it. Insurance works by paying the losses of the few with the premiums of the many. With the war in Ukraine, I believe cyber attacks are amongst the largest vulnerabilities facing the UK economy and the welfare of the citizens.
Not having insurance leaves the UK economy deeply exposed. I see how damaging cyber attacks are, and it could be dampened by installing insurance. It doesn’t stop the attacks, but financially protects organisations and their employees.