GlobalData’s survey reveals that greater than 1 / 4 of SMEs are buying cyber insurance coverage in response to media protection of cyberattacks. Previously yr alone, over 300 organisations have fallen sufferer to the ransomware group Qilin concentrating on delicate data.
In accordance with GlobalData’s UK SME Insurance coverage Survey 2025, 26.2% of SMEs cited media reviews about cyberattacks as their motive for buying cyber insurance coverage, whereas 19.3% indicated {that a} competitor’s victimisation influenced their resolution. This development highlights growing issues and consciousness concerning the dangers posed by cyberattacks throughout the business, significantly in areas resembling knowledge safety, the place developments in AI may very well be leveraged to create extra refined threats.
Asefa, the Madrid-based subsidiary of French insurer SMABTP, is the most recent organisation to be focused by the ransomware group Qilin, which claims to have extracted over 200GB of delicate knowledge from the corporate. The escalating menace and the rise of comparable teams necessitate proactive measures from organisations to boost their cybersecurity protocols.
Among the many 200GB+ of information compromised by Qilin was data associated to the outstanding Spanish soccer membership FC Barcelona. The leak of paperwork in regards to the membership may result in important reputational injury for Asefa, given the high-profile nature of the shopper. This example underscores the pressing want for firms to guage their threat publicity and reassess their cyber insurance coverage protection.
The Asefa cyberattack underscores the need for enhanced cyber resilience in gentle of the rise of ransomware teams resembling Qilin and the usage of AI in cyberattacks. As outstanding breaches improve consciousness amongst SMEs, insurers have an opportunity to supply customised cyber options and proactive help to sort out these challenges.
