Cyber attacks are one of the biggest risks faced by businesses in the UK right now. Not only because of the regularity in which we are seeing attacks occur, but also the severity of incidents which can be catastrophic.
According to the Government’s Cyber Security Breaches Survey 2020*, not only has the extent of cyber security threats not diminished; it has actually evolved and become more frequent. Almost half of businesses (46%) and a quarter of charities (26%) reported having cyber security breaches or attacks in the previous 12 months. It is higher among large businesses (75%) medium businesses (68%) and high-income charities (57%). Of the 46% of businesses who reported a cyber security breach, 32% experienced on at least once a week.
This is why we have worked hard to bring together advice, guidance and tips in one place, to support individuals and businesses to reduce the risk of a cyber attack. You can see this guidance below.
About the author
Mark Brannon Cert CII is a respected industry leader with over 17 years’ industry experience in a variety of roles within the business insurance sector. He works across a wide spectrum of insurance product and policy development, delivery and optimisation for clients, including claims, insurer relationships, marketing and communications, and risk management.
Read related articles
- Cybercriminals likely poised to attack as Magneto 1 reaches end of life
- How to become more cyber secure
- The important role cyber insurance has to play in the coronavirus crisis
- Cyber risks on the rise as businesses reopen
- Smartphones becoming an increasing cybersecurity risk for organisations
- Comparing a cyber loss and fire loss
- Cyber Crime
- Cyber Crime Video
For more information or for a full review of your insurance needs, please see our insurance specialisms, contact your usual Towergate Insurance Brokers adviser or email TIB@towergate.co.uk.
The information contained in this bulletin is based on sources that we believe are reliable and should be understood as general risk management and insurance information only. It is not intended to be taken as advice with respect to any specific or individual situation and cannot be relied upon as such. If you wish to discuss your specific requirements, please do not hesitate to contact your usual Towergate Insurance Brokers adviser.
