A recent co-authored report from Marsh and the UK government “has found that just two percent of UK firms have cyber-insurance, despite 81 percent of firms admitting that they’ve suffered a breach in the last 12 months.”
The UK government has been working to develop a local cyber insurance market through collaboration with Marsh and The Royal Bank of Scotland because although the “London cyber-insurance market is worth some £160 million, more than 10 percent of the global market, policies for UK companies only account for around £20 million to £25 million.”