The Actuaries Institute’s latest report, Cyber Protection Gap Widens for SMEs, highlights a critical issue facing Australia’s small and medium enterprises (SMEs): a growing gap in cyber resilience.
While larger corporations have ramped up cybersecurity investments and training in response to recent high-profile cyber incidents, many SMEs, often resource-constrained, struggle to follow suit.
This widening gap leaves smaller businesses more vulnerable to cyber threats, yet only 10-25% currently carry dedicated cyber insurance, hindered by the complexity and cost.
Addressing this gap will demand continued cooperation among government, insurers, and technology providers to support the cybersecurity needs of SMEs.
Download the full report by Win-Li Toh, Dr. Michael Neary, and Sarah Wood here.
Comments
Remove Comment
Are you sure you want to delete your comment?
This cannot be undone.