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.
NMU is an award-winning provider of insurance solutions across a range of product lines.
Established in 1982 to actively trade in the provincial market, NMU provides a range of innovative insurance solutions backed up by award winning service. NMU have since grown to become a leading player, with a network of strategically placed offices.
At the heart of our business are competitiveness, service, attention to detail, innovation, flexibility and the fair treatment of customers. What sets us apart, is our ability to provide bespoke insurance solutions that are not simply off the shelf, but built upon a real understanding of the risks faced by policy holders.
We provide insurance solutions to more than 15,000 customers. Our range of products encompasses:
- Cargo: imports and exports, storage, distribution
- Marine Equipment: ROVs, AUVs
- Freight Liabilities: haulage, freight forwarding, warehouse keeping
- Engineering: construction and plant, machinery, deterioration of stock, computer equipment
- Terrorism: property damage and business interruption
- Marine Trade: Public liability, employers’ liability, buildings, contents, business interruption and other covers for the marine trade industry
- Motorsport: vehicles, trailers, tools and equipment
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