The Source for Cyber Insurance News, Insights and Data
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
Cowbell Enhances Claims Capabilities Cowbell has appointed Kirsten Maley as Director of Claims for the UK cyber insurance market. This new role aims to enhance Cowbell’s ability to support UK SMEs and mid-market businesses facing cyber risks. Maley brings over ten years of experience in the insurance industry, including more than six years focused on … Read more
With total premiums of $1.53 billion this year, the UK cyber insurance market will reach almost $3 billion by 2030, according to a May 2025 Markets and Research report. CAGR of 13.4% in Market The report attributes the growth of the British cybersecurity insurance market to increasing regulations and growing awareness of cyber threats among … Read more
Major UK retailers, including Marks & Spencer and Harrods, have suffered severe cyber attacks in recent weeks. The cliché gloom of “rainy old London town” has rarely felt more literal—or more symbolic—or maybe it’s more digital—than in the wake of recent cyberattacks on UK retailers. As shoppers braved the drizzle outside Harrods and M&S, attackers … Read more
The Marks & Spencer hack — which might cost the retailer $400 million in profits, erased even more in market cap and could lead to cyber insurance claims of at least $133 million — is just one of three recent hacks of large British retailers. “At some point the increase in frequency and severity — … Read more