The continuing risk of cyber attacks, which can be devastating for businesses and are impossible to defend against entirely, has brought into focus the potential of cyber insurance as a means to soften the blow in the event of a cyber attack. While the US market for cyber insurance is significant already, in the UK it is less advanced, although as Tom Webley, Peter Hardy and Eleanor Nugent of Reed Smith explain, it is developing. In this article, Tom, Peter and Eleanor discuss the response of the insurance market to the risks, what drives growth in cyber insurance policies, and the steps organisations putting cyber insurance policies into place should take in order to ensure they are adequately protected.

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