Google Cloud has announced an expansion of its Risk Protection Program (RPP) to over 30 EMEA markets - including the UK - and is welcoming new cyber insurance partners - Beazley and Chubb. This update comes at a critical moment for sectors like retail, where the string of recent ransomware attacks could potentially drive a surge in cyber insurance premiums.
After a period of falling prices, brokers are now warning of double-digit rate hikes and tougher underwriting across industries - from retail to healthcare and transportation. Most importantly, brokers are expecting increased scrutiny on cyber security controls, which the Risk Protection Program can help both customers and insureds with, in an automated, more streamlined way.
