The FBI disclosed that over 3,000 companies had been breached during 2013; US retailers have had an unprecedented assault leading to a rush to new payment card standards; in the UK personal details of 100,000 employees were stolen and published online; in South Korea 105 million payment card details were exposed; in Verden, Germany 18 million personal records stolen; in the Middle East cyber thieves stole $45M from worldwide ATM accounts of two banks.*
All businesses are exposed to cyber risks resulting from loss or damage to its computers, networks and data. Such losses can directly
affect revenue and lead to litigation from customers, regulators and other third parties. As a result, the BMS team work closely
with Insurers to create bespoke cyber programs for MGAs, brokers and Insurers that provide tailored solutions for all their clients
from the smallest to the largest.
*Source: PwC Report – ‘Managing cyber risks in an interconnected world 2015’.
Coverage can be as simple as a small additional sub limit offered to clients from $25,000
through to full cyber policies with limits in excess of $10m for those who need it.
The above is not exhaustive and programs can be designed to meet the individual client base requirements.
D: +44 20-7374-5906
alasdair.ritchie(_at_sign_)bmsgroup.com | More Information