UK cyber insurance claims tripled in 2024, says trade body
Companies paid out £197mn, according to the Association of British Insurers, prior to a string of high-profile attacks
Companies paid out £197mn, according to the Association of British Insurers, prior to a string of high-profile attacks

Move by Beazley comes as rivals Chubb and AIG maintain or grow their books in US

New legislation would give watchdogs the power to fine certain companies up to £17mn or 4% of annual turnover

High-profile hacks raise fears about the potential economic damage caused by disruption to supply chains and services

Companies and security groups warn government’s proposed measure is unlikely to stop hacking attacks

Cyber security chiefs warn rollout of new tool will need close co-ordination between governments and businesses

Beazley and QBE are among the groups proposing to limit losses from the rapidly advancing technology