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The risk of cyber incidents for Australian companies is on the rise, but how prepared are Small and Medium Enterprises (SMEs) to navigate and manage these risks?

Chubb and YouGov conducted a survey of 400 senior SME business and IT leaders in August and September 2018. In our report ‘Too Small to Fail?’, we look at the types of cyber incidents SMEs in Australia are facing, what their attitudes are towards these risks, and how they are managing the fallout from these incidents.

Key Findings

shape 60% of SMEs have experienced a cyber incident in the past 12 months.
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SMEs seem confident in managing a cyber incident, 87% believe they can overcome a cyber incident and 56% believe that they can contain an incident within 12 hours, but responses seem to contradict that belief;

  • 30% do not know which data files are affected after a breach
  • 45% are not confident that their employees who have access to sensitive data are fully aware of their data privacy responsibilities.
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Worryingly, 28% of SMEs took no action following a cyber incident


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The top three cyber incidents caused by internal factors were data loss or business interruption from system malfunction, technical fault and human error.
shape SMEs largely feel that the Head of IT and/or the CEO should be responsible for cybersecurity.

 

The report also contains some great tips on how SMEs can protect themselves from cyber risk and case studies from real Chubb cyber claims.

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