The Government’s Cyber Security Breaches Survey suggests that only 32% of businesses have cyber insurance.

Around half (46%) of UK firms reported that they experienced a cyber attack or data breach in 2019 – a statistic that has increased drastically by 39% from 2018.

According to the UK Government’s annual Cyber Security Breaches Survey, the number of medium and large businesses reporting breaches or attacks jumped from 60% to 68% and 61% to 75% respectively.

80% of respondents to the survey described cybersecurity as a high priority for their senior management team, with 37% saying they have board members with a security brief. This being said, there is still a considerable amount of work to be done regarding other aspects of cybersecurity within these businesses.

Although a significant percentage of businesses identify multiple cyber-attacks each week, more than half of businesses say that haven’t had a single attack in 12 months. “The most concerning thing for me is the significant number of organisations that have been targeted and aren’t aware of it. Being able to swiftly detect attacks is key to minimising damage but many organisations still lack the appropriate controls and a deep awareness of what activity to look for” says Redscan CTO, Mark Nicholls.

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