CYBER INSURANCE: Survey highlights AI & Remote Workforce as current concerns for UK SMEs

A recent survey by Specialist SME/Small Business Insurer, Markel UK,  from a poll of 500 small and medium-sized business (SME) owners, highlights a growing wave of anxiety surrounding cybersecurity among UK businesses. The findings reveal that three-quarters of SMEs are deeply worried about their Cyber safety, with the increasing sophistication of Cyber threats topping their list of concerns.

Over 60% of respondents cited advancements in cybercriminal tactics, often driven by artificial intelligence (AI), as a primary issue. The NCSC  (National Cyber Security Centre) has warned that AI makes it easier for novice hackers and other bad actors to carry out effective attacks, leaving smaller businesses especially vulnerable. The survey showed that 63% of SME owners are apprehensive about AI’s potential to intensify the risks, as many lack the necessary defenses to counteract these evolving cyber threats.

The second most pressing cybersecurity concern for UK SMEs is “securing remote work environments,” identified by 23% of respondents. With many businesses adopting remote or hybrid work models, this shift—while largely welcomed by employees for its flexibility—poses significant data security challenges. The survey further revealed that 69% of UK SME owners lack a cybersecurity policy specifically designed for remote work, highlighting a critical vulnerability in safeguarding business data.