Howden: SMEs remain underserved by cyber insurance market
Cyber attacks have cost UK businesses £44bn over the last five years, according to Howden, with the broker adding SMEs remain underserved in terms of insurance protection.
Research from Howden has found over half (52%) of UK businesses have suffered at least one cyber attack in the past year.
The most targeted group were businesses with an annual revenue of over £100m, with almost three quarters (74%) of those surveyed having suffered a cyber attack over the past five years.
However, it is not only large firms that have been impacted, with half (49%) of SMEs with a revenue of £2m to £50m also experiencing a cyber-attack over the same period.
The most common causes
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