Reasons for SMEs not having considered cyber security in the United Kingdom (UK) 2016

This statistic illustrates the reasons that SMEs have not considered taking out the cyber insurance in the United Kingdom (UK), according to senior decision-makers at British SMEs. For an enterprise to be classed as an SME, or small to medium enterprise, it must not exceed a certain number of employees or have a turnover or balance sheet total exceeding a certain amount, with these figures being given in EU guidelines. It can be seen that more than half (56 percent) of SMEs stated that they do not believe that their business requires the cyber coverage, with a further 18 percent of respondents stating that they do not understand how this coverage would protect their business at that time.