Amid rising cybercrimes and sophisticated digital attacks on companies globally, a British Caribbean Insurance Company (BCIC) executive has said that the underwriting company is in the process of adding cyber insurance as a new line to its already extensive list of products.

Lori-Ann Glasgow, general manager of marketing at BCIC ,while speaking in a Computer Society of Jamaica staged webinar last Thursday, October 15, said that the policy, which was still being fine-tuned, was currently being given a few more finishing touches before its official release to the public. Glasgow, in making a case for the soon-to-be-offered product, also underscored the growing nature of cyber threats and urged companies to seriously consider cyber insurance as a part of its business continuity plan.

“Cybercrime is a growing problem and any business plan should have dealing with the fall out of a cyberattack as a cornerstone [especially now when] we’ve seen much higher profile cybercrimes coming to the front and dominating the news,” she said.

http://www.jamaicaobserver.com/sunday-finance/bcic-preps-cyber-insurance-for-businesses_205554