The management of digital risk is a strategic board level issue requiring company-wide solutions, warned IUA.
Paul Skinner, director of IUA's Digital Risk Working Party (DRWP), said any successful digital risk management strategy would require full co-operation between technical and business managers.
"It is clear that information security cannot be regarded purely as a technical issue to be left to an IT department alone," he said.
Skinner added that digital risk was no longer a new area for the London Market and there was a growing level of expertise in the area.
IUA will be holding a seminar on the issue of managing digital risk at the London Underwriting Centre on 10 November.
