Biba flags concern on businesses cutting cyber cover
Some 40% of members involved in research by the British Insurance Brokers' Association told the trade body they had clients who were no longer insuring their cyber risks due to the cost of living crisis.
The manifesto, launched yesterday, highlighted that SMEs account for 96% of all cyber-attacks as they are often soft targets for criminals to extort money or can be used as a gateway into larger businesses.
Graeme Trudgill, Biba’s executive director, said: “It is concerning that businesses are cutting cyber cover when the risk is growing, so we want them to understand the protection and wider everyday support that is available with leading cyber insurance.”
Biba has urged brokers and
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