Businesses not considering e-insurance
An estimated three out of four UK businesses have admitted to not having any e-commerce insurance cover to protect against damage caused by computer viruses and hackers.
Despite companies around the world losing billions of pounds last month as a result of the ‘I LOVE YOU’ virus, the report by Lloyd’s of London found few have heeded the warning.
The report also suggested half of the businesses surveyed have been affected by computer viruses and 12% had experienced hacking-related problems with their computer systems.
‘This survey paints a very worrying picture of unprotected businesses beginning to count the cost of cyber vandalism.
‘What is even more alarming is that without proper e-commerce insurance cover, those costs are going to keep mounting unless there are substantial improvements to IT security in UK organisations,’ said Lloyd’s chairman Max Taylor.