Cyber Essentials: Staying Secure - New Insurance Survey Launched

• Published date: 25 September 2023
• Subject Matter: Corporate/Commercial Law, Employment and HR, Insurance, Technology, Contracts and Commercial Law, Retirement, Superannuation & Pensions, Insurance Laws and Products, Security
• Law Firm: Myerson Solicitors LLP
• Author: Myerson Solicitors LLP

Cybercrime has risen exponentially and globally, with the rate rising during the pandemic and following the invasion of Ukraine.

As such, cyber security and protecting your business from cyber incidents is a hot topic that will continue to generate heat.

Businesses need to be alert to the ever-present threat of cyber-attacks in all guises.

Having appropriate security measures to guard against attack is your business's first line of defence.

However, what happens if an attacker breaks through? What damage and disruption could your business face?

As a business, you need to consider how you would work through an attack and how you can mitigate your losses and any resulting downtime from an attack.

The risks businesses face from a cyber-attack can be compounded by the fact that many, particularly many small to medium enterprises, can obtain insurance and know the most appropriate policy to put in place a minefield.

The European Insurance and Occupational Pension Authority

The European Insurance and Occupational Pension Authority (EIOPA) is alert to this and, in a bid to gain a deeper understanding of the issues faced by small and medium enterprises, has launched a survey to find out what challenges SMEs face when trying to obtain appropriate insurance to protect against cyber risks.

If you're an SME, the...