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- Report finds round half of UK&I companies have no type of cyber insurance coverage
- That is regardless of brokers predicting rising claims and premiums
- Ransomware continues to develop and have an effect on UK&I companies
Round half of UK & Eire companies lack any type of cyber insurance coverage, regardless of rising cases of threats, new analysis has warned.
A report from Arctic Wolf discovered 70% of UK&I insurance coverage brokers are anticipating claims to extend in 2026, with the same quantity (68%) predicting premium charges to rise over the identical interval.
The information comes as cybercriminals are utilizing AI instruments increasingly to assist construct extra refined attackes, focusing on firm information and including to privateness issues.
Many firms lack cyber insurance coverage
Arctic Wolf’s information claims ransomware has now grow to be the commonest kind of insurance coverage declare globally, adopted by information breaches, theft of funds and phishing.
Almost one in 5 (18%) respondents’ shoppers had skilled a cyberattack throughout the previous month, with the typical world insurance coverage declare hovering across the $115,000 mark and enormous companies claiming a median of over $812,000.
Current UK Authorities evaluation exhibits that the variety of companies experiencing a ransomware crime doubled between 2024 and 2025, with 43% of companies having skilled a cyber safety breach or assault within the final 12 months.
“Whereas the insurance coverage trade is working with shoppers to enhance safety, assaults are in the end costing companies tons of of 1000’s of kilos value of injury,” Senior Director of Technique for Insurance coverage Alliances Kevin Kiser defined.
Within the UK and Eire, round one in 4 (23%) brokers have now negotiated pre-arranged insurance coverage advantages for shoppers with cyber danger distributors, and UK&I brokers are extra possible than the worldwide common to associate with cybersecurity suppliers.
“As menace techniques evolve, cyber insurance coverage is not a ‘good to have’ however a strategic pillar of recent danger administration,” Kiser added.
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