In depth: Are SMEs behind the times with cyber insurance?

Despite the majority of SMEs not holding any cyber insurance, these attacks are increasing. And despite their size, Martin Friel finds that many smaller businesses are more at risk than larger companies.

John Edwards, the UK information commissioner, gave a thundering warning late last year as he issued a £4.4m fine to construction firm Interserve for a data breach when he said: “The biggest cyber risk that businesses face is not from hackers outside of their company, but from complacency within their company.

“If your business doesn’t regularly monitor for suspicious activity in its systems, and fails to act on warnings or doesn’t update software and fails to provide training to staff, you can