Govt’s risk protection for schools to include cyber incidents

The Government Actuary’s Department has worked with the Department for Education to extend its risk protection arrangement to include cyber incidents.

From September 2022, cyber cover for RPA members will include increased cost of working for up to 90 days; an incident response service; dedicated 24/7/365 cyber incident breach response hotline and email; and restoration, remediation, and ongoing monitoring for cyber incidents.

In the run up to this being implemented, GAD carried out risk modelling to estimate how many schools would be affected by a cyber incident. Liam Daly from GAD led the modelling while on secondment at DfE.

“Now the cover has been launched, we’ll make sure the price addition is in line with the claims that we’re seeing,” Daly said. “This is an important development because schools are especially vulnerable to cyber risk, and many can’t get commercial cover. Schools will have support to respond to incidents quickly and reduce their impact.”

The RPA was introduced in 2014 as an alternative to commercial insurance for schools and academies. More than 40% of all eligible schools have joined so far.

    Share Story:


Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.

Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.