Cyber risk consulting
As digitisation accelerates across the economy, many organisations are questioning whether the exposures they face are adequately covered under their existing insurance policies (such as business interruption, professional indemnity or crime) or whether they need a more specialist solution.
However, cyber is a fast-evolving risk category and cyber insurance – in all its forms – remains a relatively immature and untested product.
Mactavish has analysed and negotiated standalone cyber risks cover and cyber extensions for many FTSE 100, FTSE 250 and private companies in recent years. In our experience, standardised policy wordings often do not provide the cover necessary for a complex organisation’s needs, meaning our clients need guidance on how to approach this critical area of risk transfer.
We help our clients answer three crucial questions:
- What are my cyber exposures?
- Do I need a standalone cyber policy?
- If so, how should it be structured and which broker is best positioned to place and negotiate it in the market?
We start with diligent cyber risk and loss scenario analysis so that we have a thorough understanding of your exposures and risk transfer priorities.
Mactavish then analyses your existing or prospective insurance options to ensure these are adapted to fit your specific needs. We deliver innovative solutions, leveraging our extensive knowledge and expertise to negotiate bespoke policy terms that relate directly to your business needs. This ensures reliable risk transfer and provides long-term value.
Ultimately, our work provides independent assurance to boards and shareholders that their cyber insurance is operating effectively and mitigating their most important risks.