According to a government report released last year, 87 per cent of small firms surveyed suffered an online security breach in the previous 12 months, including data corruption and loss as well as hacking and fraud.
David Willetts, Minister for Universities & Science, has launched a new guide from the ICAEW giving practical advice to the corporate finance sector, with Government and industry backing.
The guide urges companies to make cyber-security a higher priority during transactions.
A report sponsored by Zurich Insurance Group and FERMA from Harvard Business Review Analytic Services is highlighting the challenge facing business as it faces up to the task of securing data and meeting the increasing demands of laws, regulations and stakeholders.
In November 2012 the National Protection and Programs Directorate of the US Department of Homeland Security released the findings from its Cybersecurity Insurance workshop.
The workshop was delivered in November and engaged with a diverse group of stakeholders to discuss how organisations may better develop an effective connection between the cyber security activities they undertake and the broader topic of insurance. Over 60 participants attended to discuss the issues and opportunities.