Lloyd's of London hires Harvard to boost its credentials as a cyber security insurer

Insurance giant Lloyd's of London has hired Harvard for a new brief to position the firm as a 'global leader in cyber insurance'.

Lloyd's of London: Looking to develop 'cyber insurance' business
Lloyd's of London: Looking to develop 'cyber insurance' business

Harvard, which has been appointed following a competitive pitch, will also act as the European hub agency for Lloyd's of London, developing campaigns to be rolled out across a pan-European agency network.

Stewart Todd, head of strategic comms at Lloyd’s of London, who joined last November from the Financial Conduct Authority, said: "Cyber is a growing risk for businesses across Europe, and the Lloyd’s market has the expertise to help develop the protection they need. We were looking for an agency to work directly with syndicates in the Lloyd’s market to create a compelling narrative."

Louie St Claire, MD at Chime-owned Harvard, said: "The average cost of a security breach in 2015 was $3.79m, and many companies are simply not insured against that risk. Our strategy will be one of education, taking Lloyd’s into the boardroom to help companies tackle the cyber security challenge."

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