The IUA is compiling a bibliography of resources for underwriters to better understand digital risk.

A spokeswoman for the IUA said the bibliography was a "work in progress ". She said the idea was to continually update the resources.

"We will put it on our website by November and build on it as we go," she said. Safeonline, a provider of digital risk insurance, has been involved with the IUA to increase digital risk awareness.

Vice president Europe Stuart McMillan said he fully supports the IUA's initiative.

"It comes at a time when security threats to a business have never been more serious,"he said.

"It's of the highest importance that brokers are made aware of the grave impact digital risks can have on a business and ensure their clients are covered against potentially catastrophic data losses or legal liabilities," McMillan said