Greater than two-thirds (69%) of UK small and medium enterprises (SMEs) lack a cybersecurity coverage, in keeping with figures from specialist insurance coverage agency Markel Direct.
The analysis recognized a big lack of fundamental cybersecurity measures and hygiene in place throughout these corporations.
This included 43% admitting that their workers are usually not educated on greatest practices and potential threats, whereas simply 35% encourage their workers to replace passwords.
Moreover, solely round half (52%) of SMEs use multi-factor authentication (MFA).
Relating to safety tooling and software program, 72% of SMEs stated they’ve antivirus/anti-malware software program in place, 49% have electronic mail filtering for spam and phishing emails, 47% have a firewall and 46% have safe Wi-Fi networks.
Beneath half of surveyed corporations conduct common knowledge backups (46%) and have knowledge encryption (44%).
Greater than two-thirds (69%) frequently replace system software program.
The survey of 500 SMEs additionally discovered that half (49%) wouldn’t know what to do within the occasion a cyber-attack.
An identical proportion (53%) shouldn’t have cyber insurance coverage in place in case of a breach.
When requested how they safe firm knowledge when accessed by workers working from residence, 52% of SMEs stated they use digital personal community (VPN) entry, 48% practice their workers on safe distant work practices and 46% have distant entry insurance policies and controls in place.
Largest SME Cybersecurity Considerations
The most important cybersecurity concern for UK SMEs for the long run was the growing sophistication of cyber threats (62%), fuelled by AI and different rising applied sciences.
This was adopted by securing distant work environments (23%), ransomware and different types of malware (22%), rising applied sciences and their implications (21%), inadequate price range/assets for cybersecurity (19%) and vulnerabilities related to third-party distributors and suppliers (19%).
Rob Rees, Divisional Director of Markel Direct, commented: ‘Staying forward of cyber threats is essential for small enterprise homeowners, particularly as AI-driven assaults proceed to evolve. Having a strong cybersecurity coverage in place will help create a framework to safeguard towards ongoing threats, while cyber insurance coverage will help to guard what you are promoting within the occasion of a focused assault.”
A survey by JumpCloud in July 2024 discovered that 49% of SME IT groups consider they lack the assets and staffing to defend their group towards cyber-threats.
