NMU presents its first official podcast on The Latest Cyber Trends
Authored by NMU
We are pleased to present our first official NMU podcast featuring our Cyber & Financial Lines Manager, Matt Drinkwater, BSI Security and Information Resilience’s Sector Strategy Head, Austin France, and our host Ant Gould.
In the podcast, our speakers delve into the latest cyber trends impacting SMEs and how brokers can protect not only their clients, but their own brokerages also. Listen to the full podcast below and read on for our updates on common misconceptions about cyber insurance and how to educate yourselves, whilst gaining certification.
To listen to NMU’s podcast CLICK HERE
Misconceptions about cyber insurance
When it comes to cyber insurance, one of the common responses we hear from brokers and their clients is that they don’t think they need it. These instances highlight that there are undoubtedly still misconceptions in terms of the benefits cyber insurance offers, the risk businesses face, and the increasing likelihood they will be targeted. Despite the misconception that cyber attacks only pose a threat to large ‘tech’ companies who hold data, virtually all modern businesses (regardless of size and industry) who use social media, computer systems, or the internet are at risk.
In 2020 alone, the number of ransomware attacks tripled from Q1 to Q2 – with businesses in manufacturing and professional services facing the highest risk. Cases like this should serve as a key reminder to not only brokers’ clients, but brokers themselves, that cyber insurance is essential – for protecting against both financial and reputational loss.
How to educate yourself with Cyber Essentials
In our efforts to educate and raise awareness of cyber risks, we recommend Berea’s Cyberami – Cyber Essentials product, which teaches organisations about common cyber threats and explains how to configure IT systems to protect against them. Completing the scheme provides organisations with the option to purchase a certification, which is now required by Schools, Universities and other organisations seeking funding from the Education and Skills Funding Agency (EFSA) in 2020/2021.
To speak to someone about NMU’s CyberSafe insurance or e-trade solution, CLICK HERE, leave a message and youTalk-insurance will pass your enquiry on.
About NMU
NMU is an award-winning provider of specialty insurance solutions
We are the first choice for brokers looking for specialty insurance, offering solutions that are not simply off-the-shelf, but built upon a real understanding of the risks faced by policyholders. This, together with our ability to write risks such as storage, installation, construction and exhibitions outside of the UK and offer terrorism cover on overseas property, sets us apart from the competition.
You can count on us, when you need us most! We are NMU
Our team of professionals based across the UK, provides customers with an in-depth product knowledge and a real personal service.
We provide bespoke insurance products that are not simply off-the-shelf solutions, but built upon a real understanding of the risks faced by policyholders as well as offering added value services to benefit our clients.
Our product and services range comprises:
Cargo Insurance: Marine cargo policies cover goods during import and export, including any incidental storage, as well as domestic distribution. Stock throughput polices can cater for all this plus other, intentional storage…read more
Freight Liability Insurance: Covering the liabilities to which hauliers, freight forwarders and warehouse keepers are exposed when they contract to move or store goods owned by others…read more
Engineering Insurance: Covering contractors’ all risks (CAR), erection all risks (EAR) and contractors’ plant; machinery movement (and installation), breakdown and business interruption; deterioration of stock; and electronic risks…read more
Marine Equipment Insurance: Covering remotely-operated and autonomous underwater equipment – ROVs, AUVs and the like…read more
Terrorism and Sabotage Insurance: Standalone terrorism cover can be a more flexible and cost-effective alternative to traditional placement routes…read more
Motorsport Insurance: Designed for commercial risks, our motorsport policy offers 24/7 cover for teams at all levels across all disciplines…read more
Cyber Insurance: Providing SMEs with a simple, robust solution for cyber liabilities, cybercrime and restorative support…read more
Risk Control: Whilst we pride ourselves on our claims service, there is far more benefit to policyholders in preventing loss and damage in the first place…read more
Online Facilities: To complement our award-winning service, we use online facilities to assist NMU policyholders and brokers alike…read more
Claims Management: We pride ourselves on prompt and efficient claims management, which is supported by the use of independent surveyors and adjusters to quantify larger losses and to give advice on mitigation measures…read more