Lloyd’s of London has hired Harvard PR, part of Chime, with the aim of positioning the insurance giant as a global leader in cyber insurance.
Harvard will develop a new narrative and messaging to be used by Lloyd’s to tell a consistent story around cyber risk, and to support its ‘reputation for genuine innovation’.
Stewart Todd, head of strategic communications at Lloyd’s, 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 that would work directly with syndicates in the Lloyd’s market to create a compelling narrative. Harvard impressed us with its impeccable tech credentials, particularly in the cybersecurity space, and will bring the right strategic approach to our challenge.”
Louie St Claire, MD at Harvard added: “The average cost of a security breach in 2015 was $3.79 million [£2.62 million], 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.”