45% of small businesses have no insurance in place to protect them against cyber risks
The most recent survey commissioned by Aon, the global professional services firm, around the data protection rules has revealed that many small business owners have admitted they are still “clueless” about the laws concerning GDPR.*
This lack of knowledge around data protection leaves the personal data of millions of employees and customers at risk.
All businesses are vulnerable to cyber risks
Research from the survey has revealed that 45% of businesses have no insurance to protect them against cyber or data risks. Other findings from the report include:
- Over 50% of small businesses do not dispose of paper customer records securely
- 71% of small businesses do not dispose of staff records securely
- 40% did not know that the loss of paperwork could be a data breach
- 36% were not aware personal data posted, emailed or faxed to the wrong person could be counted as a breach
In response to this, Chris Mallett, a cyber security specialist at Aon, said:
“Such a significant proportion of businesses not having cyber insurance is a major worry. From talking to our customers, we know that many simply can’t guarantee they’re able to successfully defend against a cyber attack and that’s not necessarily their fault – even major corporations are vulnerable.”
Make sure your business is cyber safe
It is important that your business complies with GDPR. Cyber breaches are not only costly but could potentially damage relationships with customers and new clientele. If a business fails to deal with a breach or handles it in the wrong way it could receive a significant fine.
Stay one step ahead of hackers and reduce the risk of a cyber attack by undertaking Cyber Essentials certification. Gain clarity on what essential security controls your business should have in place while protecting it from 80% of common cyber attacks.
* https://www.aon.com/unitedkingdom/insights/a-guide-to-the-insurability-of-gdpr-fine.jsp