Small firms priced out of cyber insurance Small businesses are increasingly being priced out of cyber insurance policies, due to sky-high premiums and the cost-of-living crunch. Analysis by GlobalData shows that 29% of companies with fewer than 250 staff cancelled their cyber insurance policies last year as they looked to cut costs. It was also found that 17.3% of UK SMEs had no cyber insurance policies in the first place, with smaller businesses most likely to be uncovered. GlobalData insurance analyst Ben Carey-Evans said: “With SME budgets being squeezed, and insurers not being able to lower the costs of premiums, the rising costs will be a big issue for cyber insurers going forward.”