Cyber insurance is emerging as a critical component of corporate risk management. The 2025 UK Commercial Insurance Broker Survey by GlobalData reveals that British brokers identify cyber insurance as the company insurance product with the greatest growth potential. However, the adoption of cyber coverage remains “significantly low” among small and medium-sized enterprises (SMEs) in the UK market.

The survey indicates that over half (53.6%) of the brokers interviewed believe that cyber insurance has the strongest growth potential among new or emerging company insurance products. This significantly outpaces other emerging products, such as renewable energy insurance, which garnered 8.8% of responses.

“Both insurance companies and reinsurers are diversifying their strategies to exploit emerging risks, which will support the growth of the IT insurance market – he said Beatriz Benito, Lead Insurance Analyst of Globaldata – A greater propensity towards this sector will contribute to softening market conditions, as an increase in capacity can definitely help insurers to fight the increase in prizes “.

The survey also highlighted that 60.8% of SMEs have not secured insurance against IT risks. A primary reason for this lack of coverage is that 40.5% of SMEs believe they are unlikely to be targeted by a cyber attack.

Addressing the Cyber Insurance Gap

“Despite the growing awareness of the IT risks between companies, the adoption of insurance against IT risks is far from universal.”

“Despite the growing awareness of the IT risks between companies, the adoption of insurance against IT risks is far from universal being and sub -assurance remains a basic challenge for the sector – added Benito – the protection gap is more pronounced among small businesses, despite the fact that the SMEs are more vulnerable to attacks. Insurers will have to face the protection gap on different fronts to grow the insurance market against computer risks”.

“It may be useful to focus on the communication of the impact that a computer attack can have on a company, not only in terms of operations but also of reputation – continued Benito – in the same way, there could be greater transparency in the formulation of the policies, clarifying what the dangers and exclusions are to prevent this constitutes an obstacle for buyers. the SMEs remain a large part of it and are often more vulnerable to the Attacks, but have less resources to respond effectively.