ABI calls for cyber database
The Association of British Insurers (ABI) has again called for an anonymised cyber incident database once the General Data Protection Regulation (GDPR) comes into effect in May next year.
Post reports that the ABI wants the data on cyber breaches to be collected and made available to insurers so they can underwrite cyber policies. It claims that currently there is a lack of sufficient information on cyber risks and that an anonymised database could help price cyber policies.
The ABI is in talks with the Information Commissioner’s Office (ICO) in order to help establish the platform that could collect and anonymise data, which insurers could then use.
Under the GDPR, businesses will have to report data breaches to their regulator.