Why are Cyber Security Insurance costs increasing significantly? Insurance underwriters are ramping up charges to mitigate huge losses due to the exponential rise of Ransomware and organisations ill-equipped to defend themselves.
Insights from the experts.
With an increase in cybersecurity threats and attacks, organisations continue to be ill equipped. Cyber Insurance Premiums are typically rising on average 30%.
We will cover why they are rising and why are Insurers imposing greater levels of security. METCLOUD and our strategic partners Silversky, S-RM and Circle Insurance, will discuss about prime threats for 2022, trends and ways to prepare your organisation for cyber-attacks, and facts about cyber security insurance.
Ian Vickers, CEO of METCLOUD
In 2017, Ian launched the METCLOUD brand. The organisation has gone on to be recognised as one of the most secure cybersecurity platforms in the UK and has won dozens of internationally recognised awards for innovation. Ian was appointed a Founding Member and Chair of the West Midlands Cyber Resilience Centre (WMCRC). The CRC is a UK Government backed initiative establishing ten regional Cyber Resilience Centres working in collaboration with NCSC, Police Cyber Teams (RCCU), Businesses and Academia. In addition, Ian is a member of the Microsoft Partner Advisory Council, which is made-up of twenty global Microsoft Partners. In May 2020, Ian became a member of The World Economic Forum’s Global Innovators Community (Invitation only membership).
Gary Mead, Consultant at SilverSky
Gary has over 35 years of experience in the IT industry covering technologies including voice/data networking, managed services, internet technologies, voice/video conferencing, wireless networks and cyber security. An experienced executive with positions ranging from sales & marketing management through to General Management, CEO and board appointments. He has operated in all major geographic areas including the Americas, Europe, Middle East/Africa and Asia-Pacific territories. He has held a number of successful senior positions with companies including Motorola, PictureTel, Octave Communications, SpectraLink, IBM, Colubris Networks, HP and Bradford Networks/Fortinet. His expertise is in either generating a successful turn-around for businesses in distress, and/or driving substantial revenue growth. In addition, he has successfully led a number of acquisitions and sales of companies. Gary has a BSc degree in Mechanical Engineering from Coventry University, and is an alumni of the London Business School
Heyrick Bond Gunning, CEO of S-RM
Heyrick Bond Gunning is S-RM’s Chief Executive Officer. His focus is setting the strategic direction for the business, working with key clients to understand their needs and sponsoring key projects within S-RM including the ED&I programme, new technology platforms and the S-RM training academy. He has played a pivotal role in S-RM’s growth since joining in 2007, leading the management buy-out of the company from Salamanca Group in 2015. S-RM now has seven international offices and employs over 250 people, serving clients in 140+ countries. Prior to joining S-RM, Heyrick was Managing Director at Kroll, an independent risk advisory firm, and Head of Client Engagement for MergerMarket (Acuris). He set up DHL’s operations in Iraq at the end of the Gulf War, helping to deliver $75M in revenue in their first year. He started his career with five years in the British Army. Heyrick has a BA in Geography and Archaeology from the University of Manchester, is an alumni of INSEAD, and a published author.
Peter Jones, Director at Circle Insurance
Peter Jones has worked in the insurance industry for over 40 years. His first 18 years saw him in various roles with insurance companies undertaking roles in underwriting, claims and then in sales and surveying. He strongly believes that having spent seven years as a risk surveyor discussing and improving property, liability risks and discussing and advising health and safety to a wide range of clients this was the perfect apprenticeship to become an insurance broker who could explain insurance in plain English. For the last 25 years Peter has been a successful insurance broker advising commercial and corporate clients from a wide range of industries on their risk management and crafting bespoke insurance programmes that met their demands and needs. Most of his clients have trusted him for more than 15 years including on matters beyond just insurance. Peter has held a pivotal role at Circle Insurance Services Ltd since 1998, he became a Director in 2007. He remains very much client facing whilst contributing to the overall running of this vibrant Insurance broking business. Circle Insurance Services Ltd is both a Lloyd’s of London and a Chartered Insurance Broker and is a wholly owned subsidiary company of Circle 1991 Ltd, of which Peter is a Director of too. Circle 1991 own Circle Financial Services Limited and Mercia Underwriting Ltd. The Group employ some 115 people, the majority of which are in the insurance broking company working from 8 offices located in England, Scotland and Wales.