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A new study of the UK cyber risk insurance and broker community reveals startling findings. First and foremost, the insurance industry needs to address non-affirmative cyber in a meaningful way. Second, measurement of cyber risk in financial terms is highly deficient among insurance customers and the insurance industry itself.
More than three-quarters (77 percent) of UK cyber risk insurance brokers and insurers believed that the insurance industry needs to urgently address non-affirmative cyber or ‘silent cyber’ in a deeper, more meaningful way.