The European Insurance and Occupational Pensions Authority (EIOPA) launched a survey on access to cyber insurance by Small and Medium Enterprises (SMEs) to gain deeper insights into the challenges small businesses face in protecting themselves from cyber risks and to evaluate the level of access to cyber insurance.
Access to (cyber) insurance coverage plays a significant role in mitigating risks stemming from digitalisation by absorbing shocks and managing risks associated with irregular and unpredictable income. Insurance can make SMEs resilient to shocks, also making them more financially sound.
The survey will gather information on the size and type of business of the surveyed enterprises, the level of cyber risk awareness vis-à-vis their business, the availability, affordability, and understanding of cyber insurance products.
It will also shed light on the experience and perceptions of SMEs regarding cyber insurance, including whether they have considered purchasing a policy, the factors that influenced their decision (not) to purchase coverage, and the potential barriers to access.
The survey is available in all 24 official EU languages, and SMEs are invited to take part until 20 March 2024.
Details
- Publication date
- 20 September 2023