Businesses urged to act as two in five UK firms experience cyber attacks in the last year

Two in five businesses (39 per cent) and a quarter of charities (26 per cent) report having cyber security breaches or attacks in the last 12 months.

  • New report suggests the cyber risk to organisations is heightened because of the pandemic
  • Data shows fewer businesses are taking recommended cyber security measures
  • Government urges organisations to follow expert guidance to boost their online resilience

The Cyber Security Breaches Survey 2021 report also shows the cyber risk to organisations is heightened because of the pandemic, which has made securing digital environments more challenging as organisational resources are diverted to facilitating home working for staff.

The most common breaches or attacks were phishing emails, followed by instances of others impersonating their organisation online, viruses or other malware including ransomware.

Where a breach has resulted in a loss of data or assets, the average cost of a cyber attack on a business is £8,460. This figure rises to £13,400 for medium and large businesses.

The figures also reveal nearly half of businesses (47 per cent) have staff using personal devices for work, but only 18 per cent have a cyber security policy on how to use those personal devices at work. Less than a quarter of businesses (23 per cent) have a cyber security policy covering home working.

View the report here.

Cyber insurance is designed to protect your business from digital threats, such as data breaches, phishing attacks and viruses. It will provide support for your business in the event of a cyber attack. A business has a responsibility for its own cyber security, so make sure that you are protected.

Contact us today to discuss cyber insurance for your business.