Cyber crime is a growing threat to UK corporates, with official government figures showing that 90% of larger businesses have suffered a cyber breach in the past year. The average cost of the worst single cyber breach suffered by each large UK business last year was more than £3 million.
More than 1,000 UK businesses have adopted Cyber Essentials, a government scheme that sets out five technical controls to protect businesses against the most common online threats, including viruses, malicious software and hacking.
Employees can be encouraged to play their part, for example by spotting potential phishing scams and alerting them to their company’s IT department.
However, even with robust technology and a workforce that has been educated on how to detect certain cyber threats, it is impossible for companies to completely eliminate the risk of a cyber breach, which is where the role of insurance comes in.
Speak to Horner Blakey Insurance Brokers about cyber cover for your business on 020 7929 0108.
