SMEs more likely to purchase cyber cover since pandemic
September 28th, 2020 – Data and analytics company GlobalData has recommended that insurers should increasingly focus on larger small and medium-sized enterprises (SMEs) following the COVID-19 outbreak.
cyber-securityAnalysts found that 8.5% of SMEs said they were more likely to purchase cyber insurance since the start of the pandemic, and among medium-sized SMEs this figure rose to 33%.
This data shows that a third of medium-sized businesses are currently a perfect target for insurers and brokers, following the uptick in cyber incidents over the last few months.
However, the vast majority of sole traders (88%) said their likelihood of purchasing cyber cover had not changed, meaning they should be less of a target for cyber insurers.
More…https://www.reinsurancene.ws/smes-more-likely-to-purchase-cyber-cover-since-pandemic-globaldata/
Written by Reinsurance News
Related Post
South African SMEs: Navigating the Path...
The State of South African Small Business 2025 report highlights that SMEs are increasingly the backbone of the national economy, with 83% r...
Energy Prices and Their Impact on...
The structural disparity in electricity costs when compared to the European average is a growing concern for micro and small businesses thro...
First Report by the Observatory on...
The First Report by the Observatory on SMEs and Capital Markets highlights that Italian SMEs increasingly see capital markets as an opportun...
