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Comments from Lloyd’s - Small businesses have put cyber security on the back burner
June 2016 by Geoff White, underwriter at Lloyd’s
Following the news from Barclaycard about how SMEs have put cyber security on the back burner, below comments from Geoff White, underwriter at Lloyd’s.
“The Barclaycard survey findings that SMEs are still not prioritising cyber security is disappointing. Although many UK businesses are not aware of how exposed they are, technology is so fundamental to how businesses run that cyber is a risk regardless of size or industry.
“There’s no such thing as perfect cyber security, and, with the introduction of the new EU regulations, small businesses will be financially impacted. We know it’s now a matter of “when, not if” a company suffers a cyber-attack or breach, but they shouldn’t be company-ending events. Businesses should look towards wider protection, including cyber insurance, to protect their balance sheet and help get them back on their feet.”
