From Yahoo Finance: 2025-05-27 13:43:00

A GlobalData survey shows over half of UK commercial brokers believe cyber insurance has the most growth potential in the industry, driven by heightened awareness of cyber threats. GlobalData’s 2025 UK Commercial Insurance Broker Survey reveals 53.6% of brokers see cyber insurance as the top emerging product. QBE Insurance Group’s 2024 report indicates a 104% increase in cyberattacks, with 78% of IT decision makers expressing concern.

Despite increased awareness, only 40.2% of UK SMEs have cyber insurance, indicating a gap between concern and action. To increase uptake, insurers must simplify product explanations and tailor offerings to different businesses. Confusion persists around coverage for downtime, data breaches, and penalties, highlighting the need for clearer policies and guidance to boost confidence in obtaining protection.



Read more at Yahoo Finance: UK brokers expect strong growth in cyber insurance as business risks escalate