In the wake of high-profile cyber attacks disrupting Jaguar Land Rover, Adrian Cox, CEO of Beazley, has called on businesses to shift from a mindset of panic to one of preparation and resilience.

Beazley’s recent survey of 3,500 businesses suggests that while 27% now see cyber risk as their top threat, 81% feel “prepared” – a confidence that may not fully align with the evolving threat landscape. Many are reassessing their approach: 74% are reviewing supplier security following systemic attacks, while 32% are exploring insurance options this year, with nearly half reporting greater trust in insurance value.

“Almost every day we see reports on the damage that cyber attacks are inflicting on businesses around the world. Perhaps business leaders are left simply wondering when it will be their turn for operations to be shut down, data leaked, and trust fractured,” Cox said. “I reject that thinking. While there is no simple solution to this problem, and cyber attacks are inevitable, it’s time to build a mindset of preparation, not panic.”

Cox emphasised the importance of building resilience that focuses on prevention, protection, and response. “Building resilience that focuses on before, during and after prevention and protection is the only way we can avoid prolonged outages that shatter reputations and cripple finances,” he stated. “Whilst no institution is impenetrable, appropriate controls and protections do help, and the quality of response to an attack is as impactful as preventing one in the first place.”

He also highlighted the role of insurance in the broader cyber risk management strategy. “Insurance is an important part of the solution, but it cannot be the only piece,” Cox noted. “I would encourage business leaders to take action, putting cyber protection and security at the heart of their business thinking and engage with their insurance broker to ascertain the role that it can play to ensure they are as resilient and ready as possible.”

The Jaguar Land Rover episode raises a broader question about responsibility. If JLR or its parent company Indian conglomerate Tata Group chose not to purchase cyber insurance, or allowed existing cover to lapse, it is difficult to justify why the UK taxpayer should be expected to shoulder the resulting financial burden – as reports emerging this week suggest may be the case.


Image courtesy Jaguar Land Rover

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