One in Ten SMEs Have Suffered From a Data Hack

One in Ten SMEs Have Suffered From a Data Hack PR Newswire LONDON, July 18, 2012 LONDON, July 18, 2012 /PRNewswire/ -- - Only 25% are very confident in their security measures - Research by Hiscox; specialists in small business insurance, has found that one in ten (10%)* small businesses in the UK have experienced a data hack. The research also revealed that 90% don't have a cyber crime insurance policy in place to protect them against the financial, business interruption and legal costs they would incur should they be struck by cyber crime. Hiscox found that while four in ten (41%) SME owners are concerned about their computer systems being hacked, only 25% are very confident about the security measures their company has in place to protect against these risks. The research also shows that small business owners are more concerned about risks relating to cyber crime, such as being hacked (39%) or phishing (36%), than they are of physical items (laptops, customer paperwork) being stolen from the office (31%). Hiscox SME insurance expert, Alan Thomas, comments: "Cyber crime is costing the UK economy around £11bn a year** and while the media is reporting a growing number of high profile data breaches, some small businesses may also be a popular target for hackers because their systems are usually easier to get into and the breach may not be found out for a good few weeks.