Cyber insurance premiums on the rise for UK businesses

By 9th January 2023 Cyber, News
Reinsurance news

UK businesses are facing soaring cyber insurance premiums caused by higher claim risks at a time of heightened exposure to cyber-attacks, a survey by Mactavish has revealed.

Mactavish surveyed companies with over a 10m turnover, across industries including technology, manufacturing, aviation and maritime sectors, construction and Energy companies. Over half of large businesses (56%) who have prioritised cyber protection, said the rising policy costs have contributed to cutbacks in other areas of the business.

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