Yesterday we presented to the media and industry analysts the first report on the cyber risks transfer through cyber policies in Spain, prepared in conjunction with THIBER. It took place in the IE University’s Aula Magna, Madrid. Some of the most important companies in technology, insurance and consulting sectors such as AIG, AON, K2 INTELLIGENCE, MARSH, MINSAIT and TELEFÓNICA in collaboration with the IE University, took part in its production.
This document study was conducted with the aim of meeting a market need to manage cybersecurity risk through insurance protection.
The new threats related to the digital environment, the interconnectivity and the digitization of the Spanish business network prove the need for paradigm shift. The cyber security and risk consultancy providers, the public administration, the insurance sector itself, as well as the rest of the business sector should advocate the cyber incidents integral management, which according to data from INCIBE, increased 180 percent in Spain in 2015 alone.
Thus, there must be a continuous collaboration between the emergency departments of insurance companies, specialized technology companies and ICT departments of insured companies. For that, it will be essential to have a document that would serve as a based on analysis up-to-date tool, and, at the same time, would gather up common work proposals. This is where this new report will become the reference document for the immediate future.
The overall message of the event pointed at Spanish cybersecurity market as a booming market, offering products that improve cybersecurity both at corporate and the administrational level and, there is no doubt that it will give plenty to talk about in the short and medium term. It is the responsibility of all stakeholders to ensure its consolidation.