MGAM Cyber Guide

Cyber guide

April 19, 2021

FACT – Around 65,000 attempts to hack SME’s occur in the UK every day, around 4,500 of which are successful.

Many SMEs are connected electronically to the IT systems of a range of larger, partner organisations. So, when cybercriminals are looking to infiltrate these larger and more cyber secure organisations, they are increasingly targeting their humble downstream suppliers to see if these small businesses offer a less-secure way in.

FACT – Around 1.6 million of the 5.7 million SME’s in the UK is successfully hacked each year.

As we become increasingly reliant on technology, the potential impact of cyber-related incidents continues to grow. To help you understand more about the risks your clients face and to gain a better understanding of Cyber Insurance, MGAM has produced a handy guide to cyber risks.

We’ll also be launching a blog series in which we seek to demystify how cyber risk and insurance has evolved and how a good cyber policy addresses these modern exposures.

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