Cyber Essentials certified businesses made 92% fewer insurance claims

The UK government has launched a campaign to encourage smaller businesses to adopt the Cyber Essentials (CE) scheme. The initiative provides practical steps for organisations to defend against common cyber threats, which are estimated to cost British businesses £14.71 billion annually. 

Analysis of last year's data highlights the scheme's effectiveness, revealing that organisations with CE certification made 92% fewer insurance claims. In addition to boosting resilience, CE certification supports businesses in securing government contracts. Eligible businesses can also access free cyber insurance, including a 24-hour emergency helpline. By promoting CE, the government hopes to safeguard the financial stability of smaller businesses and ensure the increasing costs of cyber incidents do not undermine public services.

In related news, Richard Horne, CEO of the National Cyber Security Centre(NCSC), has warned smaller businesses that they are targets for cyberattacks, despite a common belief to the contrary. In a LinkedIn post, Horne stated that while many SMEs acknowledge the rising threat of cyberattacks, few have implemented the necessary protections because they assume criminals prefer larger, high-profile organisations.

Dismissing this assumption, Horne explained that most attackers prioritise technical vulnerabilities and ease of access over brand recognition or company size. 

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