The Source for Cyber Insurance News, Insights and Data
Cyber insurance for small and medium-sized enterprises faces clarity and cost hurdles – Despite SME leaders recognising cyber risk, nearly half of uninsured firms self-insure. That choice invites financial ruin after major attacks. Surveying 104 SMEs about cyber insurance, the UK Government’s Department for Science, Innovation and Technology commissioned this study to map the gap. … Read more
Is This the Start of a Global Push to Criminalize Ransom Payments? – The UK government plans to outlaw ransomware payments by public sector bodies. Private firms must report their ransom decisions before making any payments. The plan follows a wide public consultation and reflects growing concerns over cyber attacks on hospitals, councils, and national … Read more
Anatomy of a Cyberattack – On July 8, 2025, Marks & Spencer Chairman Archie Norman appeared before the UK Parliament’s Business and Trade Sub-Committee. The hearing focused on the April cyberattack that shook the British retail giant. Norman, joined by General Counsel Nick Folland and Corporate Affairs Director Victoria McKenzie-Gould, delivered a sobering account of … Read more
No Time Like The Present – How does the saying go? “Timing is everything,” and “Never let a crisis go to waste.” These ideas may have echoed in the C-suite at Markel as they launched this pre-loss services initiative. In the wake of the Marks & Spencer and Co-op hacks, UK business leaders are (better … Read more
In a first-of-its-kind public financial impact report, the UK’s Cyber Monitoring Centre (CMC) has classified the April 2025 ransomware attacks on Marks & Spencer and Co-op as a Category 2 systemic cyber event. The CMC estimates that the combined financial damage from the retail cyberattack ranges from £270 million to £440 million. The Cyber Monitoring Centre The … Read more