According to the most relevant statistics found in this year’s Cyber-security Breaches Survey, commissioned by the Department of Digital, Culture, Media & Sport, 2018 was a particularly high year for cyber-attacks.
Describing factors such as breach likelihood and the impacts of the most disruptive breaches, this survey highlights the value of UK businesses and charities investing in cyber-security and cyber-insurance.
Cyber-attacks are a rising occurrence among all UK organisations, regardless of size or industry, and the facts show that these damages are likely to rise still.
Some devastating facts about cybersecurity in the past 12 months:
- 43% of all UK businesses experienced cyber-security breaches or attacks
- The average cost of breaches caused all UK businesses an average of £3,100
- Companies using cloud computing increased their likelihood of breaches
- Allowing employees to use their own devices for work increased likelihood of breaches
- The most disruptive breaches were fraudulent emails and websites, viruses, spyware or malware
The impact of cyber breaches:
37% of businesses and 40% of charities that experienced a breach or attack, reported suffering negative impacts such as:
- Temporary loss of access to files and networks
- Software or systems corrupted or damaged
- Website or online services being taken down or slowed
How many companies invest in cyber-security?
- 9% of business have a cyber-security insurance policy in place
- 4% of charities have a cyber-security insurance policy in place
Cyber insurance is the best way to protect your clients, employees and your company. Insurance from these breaches can protect you from:
- Reputational damage
- Network business interruption
- Cyber extortion
- Physical assess damage
- Network security liability
- Privacy events
If you’ve been considering setting up cybersecurity insurance, there has never been a better time to do it. We hope to help spread this awareness and make the statistics for 2019 much lower.
Speak to a member of The Trust Insurance Group to find out how you can help protect your company – 01476 434050.