The Hiscox Cyber Readiness Report – Reflections from the NEBRC

The Hiscox Cyber Readiness Report 2021 has revealed that 43% of companies have been targeted by cyber-criminals, with over a quarter experiencing five or more attacks. According to the report, one in six of businesses attacked revealed that the financial impact of the attack has threatened the future of their company.

The report, which surveyed 6,042 companies across the US, UK, Belgium, France, Germany, Spain, the Netherlands, and Ireland measured six key cyber security areas across people, processes, and technology.

Just one in five companies questioned qualified as an ‘expert’ in cyber security, with over a quarter achieving the ‘novice’ classification. The maturity of cyber security across the board for many companies was found to be severely lacking, despite the recent increase in cyber-attacks.

Highlighting the financial impact of attacks, the report detailed that attacks to micro firms cost an average of £6,000 - however 5% of businesses targeted suffered a cost of over £211,000 with ransomware becoming more commonplace.

This report clearly underlines the importance of establishing good cyber security as a pre-emptive measure. On the NEBRC website, you can find a selection of resources tailored for a range of organisations, as well as our FREE core membership option, which puts many of our resources right at your fingertips.

If you are responsible for an IT security system in the North East and would like further help to boost your cybersecurity, contact us at