MGA : TPA
SMEs have to absorb the cost – something many are not able to do – and risk leaving themselves exposed to disaster if they decide to forgo cyber insurance completely .
David Bicknell , Thematic Analyst at GlobalData , warns the problem is not isolated to the UK : “ Today ’ s always-connected world offers a myriad of opportunities for cyber attackers to disrupt countries , organisations and individuals . A challenging worldwide geopolitical environment exacerbated by the Covid-19 pandemic – and , since February 2022 , the Ukraine-Russia conflict – has gifted cyber attackers an uneven playing field , which they are actively exploiting .
“ BUSINESSES SHOULD RECOGNISE THAT VULNERABILITIES ARE HOLDING THEM IN A DEADLOCK , AS RANSOMWARE ACTORS USE THAT TO THEIR ADVANTAGE ”
CHARLES HENDERSON HEAD OF X-FORCE , IBM
“ The Biden administration ’ s top cyber officials recently warned that more frequent cyber attacks are the ‘ new normal ’ for US companies and individuals . Or to put it more starkly , things are bad out there and they ’ re unlikely to get better anytime soon .”
88 September 2022