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Cyber Insurance Emerges As Next Big Product For UK


UK brokers believe that cyber insurance is the new or emerging commercial insurance product with the most growth potential. Significantly low cyber insurance penetration rates among smaller firms make small and medium-sized enterprises (SMEs) a largely untapped market for growth, according to a survey conducted by GlobalData, a leading data and analytics company.


GlobalData’s 2025 UK Commercial Insurance Broker Survey* reveals that over half of brokers (53.6%) believe cyber insurance has the potential to record the strongest growth among new or emerging commercial insurance products. Cyber insurance significantly surpasses the potential of other emerging products, with renewable energy insurance—the second-most popular product—attaining 8.8% of responses.


Cyber insurance PR chart.png


Beatriz Benito, Lead Insurance Analyst, GlobalData, comments: “Both insurers and reinsurers are diversifying their strategies to tap into emerging risks, which will support growth in the cyber insurance market. A greater appetite around this line of business will help soften market conditions, as an increase in capacity can help insurers combat soaring premiums.”


Findings from GlobalData’s 2025 UK SME Insurance Survey** reveal that 60.8% of SMEs do not hold cyber insurance. The most common reason for not holding such cover is because businesses believe it is unlikely that they will be a target of a cyberattack, as cited by 40.5% of SMEs.


Benito continues:

“Despite the growing awareness of cyber risks among businesses, the adoption of cyber insurance is far from universal, with underinsurance remaining a key challenge to the industry. The protection gap is more pronounced among smaller businesses despite SMEs being more vulnerable of an attack. Insurers will need to tackle the protection gap through several fronts to grow the cyber insurance market.”

Benito concludes: “Focusing on conveying the impact that a cyberattack can have on a business—not only in terms of operations but also reputation—can be beneficial. Equally, there could be greater transparency on policy wording, making it clearer what the perils and exclusions are to avoid this being a barrier to buyers. Lastly, SMEs remain a largely untapped market and are often more vulnerable to attacks but have fewer resources to respond effectively. This makes them strong candidates for tailored cover, developing products that address their specific needs.”


*GlobalData’s 2025 UK Commercial Insurance Broker Survey was carried out via a telephone panel and reached 250 brokers.


**GlobalData’s 2025 UK SME Insurance Survey was carried out via an online panel, with 1,508 businesses surveyed.

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  • Writer: Paul Andrews
    Paul Andrews
  • Jun 29, 2023
  • 1 min read

Updated: Oct 27, 2023


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Dorset racing driver Reza Seewooruthun has secured support from Hendy Land Rover in Christchurch as the 16-year-old takes his first steps towards becoming a Formula One driver.


The youngster is driving in the Ginetta Junior Championship this year and has already secured several podium wins in the competitive series where he is bidding for the rookie championship title.


And it’s a busy year for the youngster who is a sporting scholar at Canford School and taking his GCSEs this summer.


“Although my ambitions are to become a Formula One driver Land Rover has a special place in my heart as I remember off roading in a Defender when I was very young with my dad and brother so it means a lot to have the backing and support of Hendy Land Rover this season,” said Reza.


“The support of local companies such as Hendy means that I can have the opportunity to compete in such a competitive series and hopefully move up the motorsport ladder.”

Last year Reza was English Junior Rotax Karting champion, a sport he took up when he was 13 years old.

Once his CGSEs are complete Reza will be studying with the Minerva Academy, a remote school which works with young racing drivers to help them combine education with their racing careers.


Andy Grant, Hendy Group’s head of brand performance for Jaguar and Land Rover said it was always exciting to be able to support up and coming talent. “Reza has tremendous talent, ambition and confidence and we are all following his season with interest,” he said.

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