EP142 - Unravelling MSP Cyber Insurance with Trevor Cornbill & Ian Luckett

Trevor stressed the importance for MSPs to have the right products to meet their customer's needs, which enable them to deliver on the promises made.  As we broke down the technical jargon, it became clear that underwriters are not tech people...so it may be worth considering a specialist provider with experience in the IT sector to ensure you and your clients receive the correct cover.     During our conversation, we touched upon the topic of the importance of how compliance and the potential future of regulation for MSPs could actually help protect your business.     We also explored how these accreditations like ISO could enhance the reputation of a business, attracting larger clients and demonstrating the organisation's cyber maturity. We echoed the sentiment that training clients on cyber threat awareness, such as recognising phishing emails, is not only about protecting our businesses but also about reducing the human-error factor - a key factor in a significant percentage of cyber-attacks.    We answered a couple of questions from our listeners. One of them concerned the 'act of war' exclusion in cyber insurance policies. Trevor provided clarity, explaining that different policies carry various exclusions depending on the type of attack. We also explored the differences between referring to a cybersecurity event as an 'incident' versus a 'breach.'     Trevor explained how this terminology has evolved with the changing landscape of claims and the growing prevalence of fraud and ransomware attacks.    We also discussed what to do in the event of a cyber 'incident'. Trevor emphasised the importance of verifying whether a client has cyber insurance before intervening in their systems, as premature action could inadvertently void their insurance policy.    It was a thought-provoking conversation filled with value bombs and essential tips for all MSPs. If you want to protect your business, I recommend you give it a listen. If you want to reach out to Trevor, we've shared his contact details in the show notes.      If you want to continue the conversation with Trevor, connect with him through his LinkedIn HERE    Connect with me on LinkedIn and see what I'm up to by clicking HERE  You can also connect with Stuart and see what he is up to by clicking HERE  To join our amazing Facebook Group of over 300 MSPs where we are helping you Scale Up with Confidence, then click HERE    Until next time, look after yourself and I'll catch up with you soon!