Aviva urges brokers to educate SMEs on cyber risks
Research from Aviva has found 36% of SMEs rank cyber as their most significant risk, with the insurer urging brokers to step in as firms underestimate cyber and other disruptive risks.
Businesses with less than 10 employees seem less concerned, with just one in five micro firms selecting cyber as their biggest risk, compared with over 40% across all the other SME size bandings.
Aviva reported appetite and confidence to tackle the issue is low, with IT and cyber security topping the list of tasks SME decision makers dislike most, at 25%.
SMEs also highlighted business interruption (30%), reputational damage (27%), fraud (26%) and regulatory change (26%) as top risks.
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