The British Insurance Brokers’ Association (BIBA) has appointed John Pennick of Berkeley Insurance Group as the chair of its new Cyber Focus group. The move is part of the organisation’s efforts to secure brokers’ defences following the recent “WannaCry” ransomware cyberattack.
The ransomware affected computer systems across the globe earlier this month, locking down files on infected systems and demanding payments to regain access to data.
“Cyber risks have increased considerably in recent years as most businesses rely heavily on their computer network for a variety of critical functions,” said Pennick in a statement.
“This has led to brokers having to rapidly expand their understanding of the exposures that their clients face and the cover available. The BIBA Cyber Focus group will play an important part in supporting, educating and representing brokers in a marketplace that continues to evolve. I’m very happy to contribute to this as chair of the group.”
The Cyber Focus group was formed to educate brokers following the need for heightened cyber security awareness, as outlined in BIBA’s 2017 Manifesto. The group concentrates on areas like the nature and scale of cyber threats, good cyber-security practices and related insurance products to protect one’s self online. Tom Draper of Arthur J
Gallagher has also been appointed as deputy chair.
“Part of BIBA’s commitment to members and customers is to help them deal with threats and also make the most of new opportunities being presented,” explained Andy Thornley, BIBA’s head of corporate affairs.
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