Remote working is expected to drive the demand for cyber insurance
GlobalData has found that only 18.8% of SMEs in the UK held a standalone cyber insurance policy.
As SMEs account for over 90% of the total number of businesses in the country, there is significant potential to grow the market.
What is more, the fact of remote working among many businesses will create the possibility to accelerate this growth.
In fact, grown cyber risks that the remote working brings will be a deterrent for new cyber insurance entrants.
We’ve reported that remote work has positively impacted productivity in terms of reducing costs of both employers and employees, lowering traffic and pollution level.