As we head into 2023, another risk trend which has gained momentum since the invasion is now emerging as the leading risk for businesses. Cyber-attacks are one of the fastest growing problems faced by businesses in the UK and worldwide.
This raises new dilemmas for businesses facing difficult choices about where to spend their money, creating in many cases an unhelpful trade-off between spending money on improving cyber security, or spending it on cyber insurance to provide support should that security be breached. Ideally investment should cover both.
In this article for Strategic Risk, Bruce Hepburn, chief executive of Mactavish, shares his thoughts on how the insurance market should be facing these challenges.
Download the market research this article is based on to understand the risk for your business and solutions available to mitigate your cyber exposure.
In this report, you will:
– Understand the new cyber risk landscape;
– Discover the new cyber concerns faced by UK businesses;
– Check how your cyber exposure compares to UK businesses;
– Get a practical guide to sense-check your cyber cover.