The question of cyber risk, security and with it insurance is set to be placed at the top of the agenda as the UK government launches a new campaign to raise awareness of the threats.

However, one leading expert said that in order for insurance brokers to deliver the right protection to clients they need to develop a greater understanding of the issues.

Tom Draper, head of insurance, UK at Coalition said the staging of the upcoming British Insurance Brokers’ Association annual conference could not have been better timed as it will coincide with the UK government’s campaign to raise cyber threat awareness.

Brokers will gather in Manchester next month for the event and while Draper and his team will be in attendance he said there was still much that brokers needed to learn if they were to deliver for their clients.

“Cyber exposures are growing and have done for some years,” Draper told Emerging Risks. “What we have also seen in an increased willingness from brokers to engage with the market on the issue of cyber risk.

“They need to do more for their clients and the government will announce their new strategy in the coming weeks which will put a focus on cyber risks and what business needs to do to protect itself.

“The problem at present is that the various participants are all speaking different languages. The insurance sector is speaking insurance, the cyber security sector is speaking security and business leaders are speaking about business impact. The hope is that the government’s initiative will have everyone speaking the same language.”

Draper added: “The challenge remains when it comes to education brokers are not where we would expect them to be. We need to educate the market to ensure that they can talk to clients about the risks and the solutions.”

He continued: “If a broker is talking to a client about cyber risks and the clients simply believes that they have not exposures it is a very difficult conversation to have and we need to ensures that brokers have the support and the understanding of the risks to be able to explain to clients that while they may believe they are not exposed they face risks which need to be addressed.”

However, Draper said the softening market has provided brokers with an opportunity.

“The P&C market is softening so it means that renewals are easier for the broker and it creates the opportunity for the broker to discuss with the clients how the premium saved can be allocated to broader protections including cyber,” He explained. “To achieve this however we must be talking the same language. Brokers need to talk to their clients in a language they understand.”