{"id":16075,"date":"2025-01-14T10:02:18","date_gmt":"2025-01-14T09:02:18","guid":{"rendered":"https:\/\/cyberinsights.iainfraser.net\/?p=16075"},"modified":"2025-01-14T09:59:00","modified_gmt":"2025-01-14T08:59:00","slug":"uk-cyber-insurance","status":"publish","type":"post","link":"https:\/\/smecyberinsights.co.uk\/index.php\/2025\/01\/14\/uk-cyber-insurance\/","title":{"rendered":"CYBER INSURANCE: Cybercrime cost UK Business in excess of \u00a344 Billion in lost revenue over 5 years"},"content":{"rendered":"\t\t
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Helping Keep Small Business CYBERSafe!
\n<\/strong>Gibraltar: Tuesday 14th January 2025 at 10:02 CET<\/p>\n

LATEST SME CYBER NEWS:
\nCybercrime cost UK Business in excess of \u00a344 Billion in lost revenue over past 5 years …<\/strong>\u00a0\u00a0<\/b>
\nBy: Iain Fraser – Cybersecurity Journalist<\/a>
\nCYBERInsights<\/a>\u00a0\u2013\u00a0First for SME Cybersecurity News<\/a>
\n#CyberInsights #CyberSecurity #CyberAttack #CyberAwareness #CyberSecurityAwareness #DDoS #Fraud #Ransomware #Scam #ScamAlert #SME #SmallBusiness #SmallBusinessOwner <\/em>
\n#Insurance #CyberInsurance<\/em><\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Cyberattacks have inflicted a staggering \u00a344 billion (\u20ac52.64 billion) in revenue losses on UK businesses over the past five years, according to a report by insurance broker Howden<\/a>.<\/strong><\/p>\n

Over half (52%) of private sector companies reported experiencing at least one attack during this period, with the financial impact averaging 1.9% of annual revenue per business.<\/p>\n

The report<\/a> highlights that businesses with annual revenues exceeding \u00a3100 million are the most frequent targets, underscoring the vulnerabilities faced by larger enterprises. However, the findings also reveal significant opportunities for cost reduction. Howden<\/a><\/strong> estimates that companies could slash Cyberattack<\/strong>-related losses by up to 75%\u2014equivalent to \u00a330 billion\u2014by adopting basic Cybersecurity<\/strong> measures more broadly.<\/p>\n

Key vulnerabilities cited include compromised emails, accounting for 20% of incidents, and data theft, which comprised 18% of cases. Despite these risks, only 61% of businesses use antivirus software, and just 55% have implemented network firewalls.<\/p>\n

Barriers to stronger Cybersecurity<\/strong> include cost constraints and a lack of internal IT expertise, leaving many companies exposed to potential threats.<\/p>\n

The findings highlight a pressing need for Businesses to prioritize Cybersecurity<\/strong> measures to mitigate financial and operational risks in an increasingly digital economy.<\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What is a VPN & Does my SME Need one?<\/strong> A VPN<\/strong><\/a> is a Virtual Private Network a method of securing your communications credentials. When it comes to Small and Medium-sized enterprises (SMEs<\/strong><\/a>), the choice of VPNs<\/strong><\/a> can significantly impact the security and efficiency of their operations.<\/p>\n

The\u00a0NordVPN<\/b> service allows you to connect to 5600+ servers in 60+ countries. It secures your Internet data with military-grade encryption, ensures your web activity remains private and helps bypass geographic content restrictions online. \u00a0Join\u00a0NordVPN\u00a0Today and\u00a0Save\u00a0up to\u00a073%\u00a0and Get 3 months\u00a0Extra Free<\/a>\u00a0Rude Not to \u2026!<\/strong><\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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CYBER Insights \u2013 Helping Keep Small Business CYBERSafe!\u00a0<\/strong><\/p>\n

Launched in 2020 by\u00a0Cybersecurity Journalist<\/a>\u00a0Iain Fraser<\/strong>\u00a0and his team at\u00a0IfOnly…<\/strong><\/a> CYBERInsights<\/strong><\/a> was developed to be the go-to platform providing definitive, reliable & actionable Cybersecurity News, Intel,\u00a0 Awareness & Training specifically written and curated for Small Business<\/strong><\/a> & Enterprise Owners, Partners and Directors throughout the UK. #CyberInsights #CyberSecurity #CyberMedia #CyberAwareness #SME #SmallBusiness #smallbusinessowner<\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Image Credit: Rawpixel.com Learn More \/… Image Credit: IfOnlyCommunications<\/p>\n","protected":false},"author":1,"featured_media":16078,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":"","footnotes":""},"categories":[14,565],"tags":[576,567],"ppma_author":[505],"class_list":["post-16075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyberinsights","category-cybernewsbytes","tag-cybeinsurance","tag-cybernewsbyte"],"featured_image_urls":{"full":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-scaled.jpg",2560,1921,false],"thumbnail":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-150x150.jpg",150,150,true],"medium":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-300x225.jpg",300,225,true],"medium_large":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-768x576.jpg",640,480,true],"large":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-1024x769.jpg",640,481,true],"1536x1536":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-1536x1153.jpg",1536,1153,true],"2048x2048":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-2048x1537.jpg",2048,1537,true],"covernews-featured":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-1024x769.jpg",1024,769,true],"covernews-medium":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-540x340.jpg",540,340,true]},"author_info":{"display_name":"Cybersecurity Journalist Iain Fraser","author_link":false},"category_info":"SMECYBERIINSIGHTS<\/a> SMECYBERNEWSBYTES<\/a>","tag_info":"SMECYBERNEWSBYTES","comment_count":"0","authors":[{"term_id":505,"user_id":1,"is_guest":0,"slug":"admin_yjdstq4n","display_name":"Cybersecurity Journalist Iain Fraser","avatar_url":{"url":"https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/10\/index_image440-removebg-preview.png","url2x":"https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/10\/index_image440-removebg-preview.png"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/16075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=16075"}],"version-history":[{"count":31,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/16075\/revisions"}],"predecessor-version":[{"id":17332,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/16075\/revisions\/17332"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/media\/16078"}],"wp:attachment":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=16075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=16075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=16075"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/ppma_author?post=16075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}