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Aviva research examines British SMEs and their cyber cover – or lack thereof

Aviva research examines British SMEs and their cyber cover – or lack thereof | Insurance Business UK

Aviva research examines British SMEs and their cyber cover – or lack thereof

An Aviva-commissioned survey of 505 British SMEs across the UK has revealed some eye-catching numbers.

Conducted by YouGov in April, the now publicised study found that 86% of small- and medium-sized enterprises in Britain do not have any cyber insurance in place despite increases in cyber fraud and breaches. Broken down regionally, Aviva’s figures show lower uptake in certain places compared to the overall 14%.

UK region

Percentage of SMEs with specific cyber cover

Northern Ireland

32%

Eastern England

23%

London

18%

Midlands

14%

Wales

12%

North

11%

South

10%

Scotland

3%


“We know from our Aviva Risk Insights report that cyberattacks are one of the biggest issues faced by SMEs,” commented Aviva senior cyber underwriter Alana Muir. “This gives us a perfect storm where cyberattacks are increasing while businesses leave themselves exposed through lack of cover.

“So, it is important that businesses make sure they are not just staying on top of their digital admin but they are also covered if they are one of the increasing number being targeted by online criminals.”