Cyber risk now the leading threat for UK businesses

A new report by insurance broker and risk advisor Marsh Risk finds that cyber risk has become the primary concern for UK executives for the first time. The survey of over 2,000 companies with over 250 employees found that 46% of business leaders now prioritise cyber threats, a significant increase from 20% in 2023. Other leading concerns include economic and financial issues at 44%, followed by compliance and regulatory risks at 40%.

The report confirms that high-profile attacks, increased digitalisation, and supply chain vulnerabilities have elevated cybersecurity to a board-level priority. Business leaders noted that these threats cause widespread operational disruption and reputational harm. As a consequence, businesses are moving away from isolated risk programmes towards integrated, scenario-based planning.

On a positive note, priorities are shifting towards workforce education and cultural development, along with improved governance and supplier oversight. 

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