Research Report

The future of cyber insurance – next steps for the London Market

Posted: 31 Mar 2021

Resource Type: Research Report


This report by the City of London Corporation in association with Accenture identifies cyber insurance as one of the next key markets of growth for London, as the city and the UK emerge from the pandemic. 

The National Cyber Security Centre recently published data covering September 2019 to August 2020 showing a 10% increase in cyber-incidents with 194 COVID-related. Business leaders have been faced with rising costs in cyber security. Approximately 69% of business leaders say that staying ahead of attackers is a constant battle and the costs are unsustainable.

London is well-placed to meet growing demand for cyber insurance and remain the pre-eminent global hub. It outlines how London’s cyber security ecosystem and insurance industry can collaborate to achieve this and the benefits it will have for the broader UK economy.

This webinar hosted by the The Rt. Honourable The Lord Mayor of the City of London, Alderman William Russell, explores the relationship between the London market and Latin America in the cyber insurance space. 

Speakers were:

  • Paul Gooch, Cyber Underwriter, Tokio Marine Kiln
  • Alistair Clarke, Executive Director and Team Leader, Cyber & Commercial E&O, Aon
  • Sarah Stephens, Cyber, Media & Technology Practice Leader, Marsh
  • Moderator - Max Richter, Managing Director, Insurance, Accenture
International Insurance hubs and Tech hubs with security focused companies

London is the only location that combines a global insurance hub with a leading technology ecosystem providing comprehensive services for cyber security.

Related content