Someone else is taking a REAL interest in Cyber Risks

It must be, oh, at least 4 weeks since we last mentioned Cyber in ‘Insight’. And what, dear reader, have you done about it, I might ask?

Read on, as someone else is now taking an interest.

Have you instigated a review of your own status or just kicked it in to the long grass?

If you didn’t have cover already, have you at least obtained a quote to protect your business?

And what about your clients? No, I won’t bang on about the sales opportunity, I’ll just leave it hanging.

And that someone else? None other than our friends from Canary Wharf. Have a look at https://www.fca.org.uk/publication/documents/cyber-security-infographic.pdf

Note that they say that if you suffer a cyber attack, it is a notifiable event to the FCA. It was anyway but this paper takes away any excuse you might have had to say that ‘you didn’t realise’.

I hope it doesn’t happen to you but what if it was you ….. or one of your uninsured clients.

As the young people might comment, ‘just sayin’!

Ian Ritchie
Director

About the author

Ian started his career as an insurer spending 12 years in various sales and development roles. He then founded a general and life insurance brokerage which became one of Southampton’s leading firms before its sale to what is now Bluefin, in 2000. At the date of sale, the company had grown to employ 36 staff. In 2002 he joined Robin Wood in incorporating the firm which has now evolved into the current RWA business.As former Managing Director of a mid range broking firm, he has the ability to both empathise with owner/managers and also to recognise the dangers that a firm can face, should it fail to embrace high standards of compliance and professionalism. His vast knowledge of the insurance business and the connections with senior people in all areas, positions him well to assist firms of all types and disciplines with their regulatory and business consultancy needs. Ian was an elected Council Member of the Insurance Brokers Registration Council (IBRC) from 1994 until its dissolution in 1999. The IBRC was the forerunner to the GISC which was ultimately replaced by the FSA, now the FCA, and so his appreciation of Regulation spans over 20 years.Ian is ACII qualified by examination.Ian is a past President of the Insurance Institute of Southampton (2000/2001) and remains an active member of Council. In 2014 he was invited to become a Vice President of the Insurance Institute (the national body) and as such, will represent the National President as and when required at formal events. Ian is also a Freeman of the Worshipful Company of Insurers.He is a contributor to the insurance press and a regular speaker at insurance events.

Ian Ritchie

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