British SME's Failing To Buy Cyber Insurance, Study Shows

Law360, London (June 10, 2021, 2:22 PM BST) -- Almost nine in 10 small and midsized businesses in Britain do not have cyber insurance policies, exposing them to the risk of attack amid the growth of online activity, insurer Aviva PLC has warned.

The big insurer said on Wednesday that a survey has shown that 86% of small British businesses do not have insurance for their IT systems. The research also revealed considerable discrepancies in uptake of the cover across the country — in Scotland, just 3% of smaller companies have cyber insurance, but this is much higher in Northern Ireland, where the figure is 32%, according to Aviva....

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