UK firms underestimating cyber attack vulnerability with smallest most at risk
Businesses in the UK and Ireland are five times more likely to be the target of a cyber attack than suffer flood damage and yet only 47% have dedicated cyber cover, according to research from Pen Underwriting.
Pen surveyed 300 business insurance decision-makers from different sized firms across the UK and Ireland with the results suggesting firms are underestimating their vulnerability to cyber-attack as well as the severity of potential commercial consequences. The research revealed firms are also over-estimating their cyber resilience.
Some 90% believed they are protected against potential cyber attacks, and 81% were confident they could recover quickly in the event of one.
Our concern that businesses
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Commercial Express moving from Open GI to Acturis
Managing general agent Commercial Express is switching from Open GI to Acturis for its back-office operating system and product launches, Insurance Age can reveal.
Verlingue grows again in 2025, EBCam deal price revealed
Top 100 UK broker Verlingue Holdings grew profits and turnover in 2025, maintaining its long-running expansion streak.
FCA insurance authorisation service declines in final quarter
The level of authorisation service by the Financial Conduct Authority in the areas hitting brokers worsened in the final quarter of 2025/26 with only two out of five categories rated green.
Zurich responds to broker feedback with SME commercial combined e-trade enhancements
Zurich UK has claimed an insurer first launching a module core cover approach on Acturis for its SME e-trade commercial combined offering, Insurance Age can reveal.
Podcast: Reid and Clegg present Double Indemnity – episode eight, Holborn Underwriting’s Sukie Harrar
Sukie Harrar, CEO of Holborn Underwriting, is the eighth guest on Insurance Age’s Double Indemnity podcast series and the first actuary on the show.
Interview: Gallagher’s Karen Greenhalgh
Karen Greenhalgh, head of broking and placement for the commercial division at Gallagher in the UK, details her route into insurance, being one of the very first recruits when the US giant entered the retail market, and following her recent promotion her vision for her new role at the consolidating behemoth.
Adler Fairways notches up second buy of 2026 post Intact investment
Adler Fairways has completed the acquisition of the insurance broking arm of W B Baxter, based in Essex.
US to feel the brunt of Acrisure's 11% workforce cull
Acrisure has stated that most its upcoming job cuts will be in the US.