UK Cyber Security firms have increased by 44% since 2017 and are now worth £8.3 billion according to a new report by the Department for Digital, Culture, Media and Sport.

Driven by a number of factors including an aspiration to be a world leader in technology, pro-active innovators in cyber security regulation and research whilst offering a business friendly environment, the UK has sought to support both private and public sectors which has formed the basis of its success.  With 43 million people now employed in the UK by cyber security companies, UK cyber security is thriving.

This comes at a time when other countries around the world are seeing a higher demand in how they manage their own cyber security strategies.  Companies particularly across the Asia Pacific are seeing a high rise in cyber-crime, across the likes of Australia, Hong Kong and Japan.  These countries have all become victims of cyber crime and cyber security threats.

What is certain is that cyber security is a global issue and the top risk for businesses worldwide.  As more countries increase their levels of connection so too do these threats become more apparent. With the enforcement of GDPR and the expansion of Internet of Things, the security industry needs to continually expand to support it.

UK cyber security can assist on a global scale

With the UK now successfully leading the approach towards cyber security, we have an opportunity to export our UK cyber security services abroad to assist other countries whilst building our own economy.

Supporting both the public and private sectors with cyber attack insurance, Crendon Insurance Ltd will risk assess your department to determine vulnerabilities and to put a strategy in place to raise awareness to protect against cyber crime.  Combating against destructive cyber crime such as form jacking, phishing emails, malware, distruptionware, crimeware and social engineering are just some of the cyber problems that businesses face. To find out more about how UK cyber security insurance could protect your organisation, please contact our cyber attack insurance team at Crendon Insurance Ltd.

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