CYBER INSIGHTS: Thursday 24 October 2024 – Today’s SME Cybersecurity News & Intel

3). WHAT IS CYBER INSURANCE – Cyber Insurance: Essential Shield for Small Businesses in the UK and EU – CyberKPI: Cyber insurance serves as a critical financial safety measure for Small Businesses in the UK and EU, aimed at mitigating the financial risks stemming from cyberattacks and data breaches. With the rapid digitisation of business processes, the global Cyber Insurance market is projected to grow significantly, driven by heightened awareness of cyber threats and the necessity for regulatory compliance. This is particularly relevant for small businesses, as 87% of decision-makers express concerns about their inadequate protection against cyber risks.