Cyber insurance market: joint government and industry statement
Statement by government and the insurance industry on helping UK businesses manage cyber risk.
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Leading UK insurers and Cabinet Office, UK Trade & Investment, Department for Business, Innovation & Skills, and GCHQ agreed this joint statement at a November 2014 summit to:
- highlight the risk to UK business posed by cyber attack
- recognise the role insurers can play in driving improvements in cyber security risk management
- commit industry and government to closer working to develop the UK’s cyber insurance market for this purpose
- support the growth of a cyber insurance market in the UK
- announce the establishment of working groups to focus on key issues and report emerging conclusions back to the Cabinet Office in April 2015