- Reinsurance new
SMEs vulnerable to cyber attacks
Many SMEs will leave themselves exposed to cyber risk in 2022 due to high insurance premiums and the cost-of-living crisis, according to a new survey by GlobalData.
cyber security research found that 17.3% of SMEs did not have cyber insurance in 2021 due to it being too expensive, while 29% had canceled their policy to cut costs.
Smaller businesses were found to be most exposed to rising costs, as only 21% of micro-businesses had cyber insurance, compared to 40.1% for small businesses and 54.3% for medium businesses.