Insurance Thought Leadership: The full cost of a cyberattack

In this article for Insurance Thought Leadership, Martyn Janes, Cyber Underwriter at rrelentless, uncovers the potential financial impact of a breach and why recovery costs tell only part of the story.

UK businesses lose an estimated £27 billion annually to cybercrime and for SMEs, the consequences are devastating: 60% go out of business within six months of an attack. While the average direct cost of remediation is around £21,000, hidden costs - lost income, regulatory fines and reputational damage - can push the total far higher. For small firms, a single breach can mean losses of £65,000 or more, alongside weeks of operational downtime.

Want to understand the real cost of cyberattacks and how to protect your business? Read Martyn’s full article The Full Cost of a Cyberattack on Insurance Thought Leadership.