MAT SAYS: GIMB It's essential to encourage CYBER INSURANCE BUYERS to have the correct training

Cyber insurance buyers, typically businesses seeking protection against data breaches, ransomware, or other digital incidents, must prioritise employee cybersecurity training as a core risk mitigation tool.

Brokers, armed with specialist knowledge, are ideally positioned to emphasise this.

HERE'S WHY SUCH TRAINING IS CRUCIAL FOR BUYERS:

• Reducing Human Error as the Primary Threat Vector: Human mistakes, such as falling for phishing emails or using weak passwords, account for over 90% of cyberattacks. Comprehensive employee training educates staff on recognising threats, safe data handling, and response protocols, significantly lowering breach risks. This not only safeguards the business but also minimises the frequency and severity of insurance claims, making coverage more cost-effective.
• Meeting Insurance Requirements and Avoiding Policy Invalidation: Many cyber insurers now mandate security awareness training as a prerequisite for coverage or to avoid exclusions. Skipping it can lead to denied claims or policy voids during incidents, as it demonstrates inadequate risk management. For instance, training is often listed alongside multi-factor authentication and data backups as an essential control. Encouraging this ensures buyers qualify for policies and may even secure premium discounts by proving a proactive security posture.
• Promoting Compliance and Long-Term Resilience: Training aligns with regulatory standards like GDPR or ISO 27001, reducing legal liabilities. It fosters a "security culture" where employees habitually practice safe behaviours, decreasing overall exposure to threats like social engineering. In the event of a claim, documented training can strengthen the buyer's position with insurers, showing due diligence.

HOW BROKERS' TRAINING TIES INTO ENCOURAGING CLIENT TRAINING

• Specialist cyber training empowers brokers to connect these dots for clients. By understanding the technical and financial implications of poor cybersecurity (e.g., higher premiums or uninsurable risks), brokers can persuasively advocate for employee training programs.
• This might involve recommending interactive modules, phishing simulations, or ongoing education to build resilience.
• Ultimately, educated brokers help clients view training not as a cost but as an investment that enhances insurability, reduces downtime from attacks, and protects reputation, aligning with insurers' goals of risk transfer and mitigation.

IN SUMMARY,

• Specialist training transforms brokers into cyber-savvy advisors who can drive better outcomes for all parties.
• Businesses interested in such programs can explore resources, such as certified courses from industry academies or insurer-provided tools, to stay ahead.

IF YOU NEED THE TRAINING TO TRAIN YOUR CLIENTS, CALL COMSURE

Mathew Beale - Chartered FCSI

Principal & Director - Comsure Compliance Limited, Comsure Technology Limited, Comsure Mauritius

(the "Comsure Group of Companies")

mathewbeale@comsuregroup.com

www.comsuregroup.com

T (Jersey) +44 1534 733-588 /+44 7797 747-490

T (Mauritius) +230 214-6487 / +230 5717-6907