Recently the UK government has announced new plans to implement refined legislation on cyber security for UK infrastructure firms across the country. This positive step which backs up the requirement for infrastructure cyber security insurance, will be introduced by the Department for Digital, Culture, Media and Sport, who are intending to comply with the EU Network and Information Systems (NIS) Directive.
In light of previous data breaches such as Talk, Talk in 2016 and the NHS’s WannaCry cyber-crime attack in 2017, fines will be measured against the following effects of a data breach and on the grounds of national security as follows:
- A potential threat to public safety
- The possibility of significant adverse social or economic impact resulting from a disruptive incident
- Power outages
- Hardware failure
- Environmental Hazards
Fines will also be measured against:
- Failure to comply with regulation
- Failure to report an incident
- Failure to implement appropriate and proportionate security measures
Ciaran Martin, chief exec of the National Cyber Security Centre (NCSC), sees these changes as a positive step towards creating a safer future for businesses in which to operate, with promoting the new guidance as “clear advice on how to implement essential cyber security measures”.
He also goes onto say that, “Network and information systems give critical support to everyday activities, so it is absolutely vital that they are as secure as possible.”
Do you require infrastructure cyber security insurance?
Is your business supportive to or running a substantial infrastructure for the UK? Here at Crendon Insurance Ltd we provide infrastructure cyber security insurance for companies who require a much higher level of support and are looking to apply the correct tools to protect their data and security through their day to day business services. To find out how our team can help to support business with infrastructure cyber security insurance, please contact our dedicated team for further information.
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