UK’s Allianz Insurance Offers Free Cyber Risk Assessment Tool for SMEs

June 9, 2016

Allianz Insurance plc, the U.K. subsidiary of Allianz SE, has partnered with global cyber security consultancy, IT Governance Ltd., to offer commercial customers a free online cyber risk assessment.

The Allianz Cyber Risk Assessment tool is designed to help businesses protect themselves against a potential cyber attack. It provides policyholders with an online questionnaire based on the U.K. Government’s “Cyber Essentials” assessment, according to Allianz Insurance in a statement.

Cyber Essentials sets out the minimum standards of network security that all organizations should adopt, with the U.K. government now offering SME’s grants of up to £5,000 ($7,271) towards implementation costs.

U.K. organizations can apply for certification under the Cyber Essentials scheme – now mandatory for certain government contracts and, increasingly, a requirement for successful tenders in the private sector, Allianz Insurance explained.

Allianz’s commercial policyholders can complete a free cyber assessment through the online risk management website Risk Director. They will receive a tailored cyber security improvement report and they can apply for official Government Cyber Essentials certification directly with IT governance via the tool.

“According to the Department of Business, Innovation and Skills, by ensuring network security meets the Cyber Essentials standard, around 80 percent of cyber attacks can be prevented,” commented Mona Said, customer propositions manager, Allianz Insurance.

“Organizations of all sizes continue to suffer external attacks. In the last year, two-thirds of cyber attacks were carried out by unauthorized outsiders and the average cost of these incidents has doubled, resulting in costs between £75,000 [$109,070] and £311,000 [$452,275] for SMEs,” Said continued.

Futher information about Allianz’ Cyber Risk Assessment tool is available via the company’s website.

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