Oliver Delivers a 10-Minute Masterclass on Cyber Insurance

Cybersecurity in the Spotlight – Weekly Meeting Roundup, 20 June 2025

This week, we welcomed Oliver Mullen from Simpson & Parsons Insurance, who delivered a thought-provoking and highly relevant presentation on cyber insurance. With businesses increasingly reliant on digital systems, Oliver’s talk couldn’t have been more timely. Drawing from real-world examples—including a £100 million haulage company brought down by a cyberattack—he explained how even well-prepared businesses can fall victim to sophisticated threats.

Oliver broke down the core components of a cyber insurance policy, including breach costs, data restoration, business interruption, and protection against ransomware. He also tackled common myths, such as “we’re too small to be targeted” or “our data is safe in the cloud,” showing how cybercrime affects businesses of every size and sector.

What stood out was the interactive nature of the session. Members were asked whether they currently hold cyber cover and whether they understand what it entails. Many admitted they hadn’t yet looked into it, highlighting the importance of raising awareness and prompting action. Oliver shared that over 560,000 new cyber threats are detected daily, and 81% of UK businesses affected by cyberattacks are SMEs—clearly demonstrating the scale of the risk.

He also reassured the group that getting covered doesn’t have to be complicated or costly. With access to multiple insurers and platforms, brokers like Simpson & Parsons can quickly assess needs and recommend appropriate protection.

The session was informative, engaging, and sparked great conversation—underlining the value of these weekly presentations in keeping members informed and prepared.

We had 22 members in attendance, 10 referrals were passed, and over £2,000 in business was reported from previous referrals. A productive and insightful morning all round—thanks again to Oliver for an excellent presentation.