The portion of businesses buying cyber insurance reportedly doubled in 2020. Unfortunately, the very same factors that led to this rush to buy, have also led to a change in the dynamics of the cyber insurance market. More cyber criminals are being drawn into the space by increasingly lucrative earnings, and this has led to a rise in frequency of claims.
Recently, a severe vulnerability has been identified in Log4j which is a piece of software widely used by applications and other services across the internet. Read this article to find out more.
The threat of a cyber attack remains one of the biggest potential risks for UK business owners. Taking these small steps will help ensure that your business is protected.
86% of SMEs do not have any cyber insurance in place according to a recent survey by Aviva. This lack of insurance protection comes at a time of rapid digitisation, with statistics showing that 41% of SMEs updated their website in response to the pandemic while 39% moved online or improved their online offering.