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

Small business team and hacker attacker

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

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.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Mathews on his trust and growth mission at SSP

The foundations have been laid at SSP and with a programme of enhancements to roll out in 2024, the software house is confident of delivering for customers on the road to user growth next year, according to Martyn Mathews, managing director of SSP Broker.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: