Research shows that a fifth (20%) of micro SMEs with fewer than 10 employees rank cyber as their most significant risk, despite more than 40% of other SME size bands ranking it in the top spot. The data came from a survey of 500 insurance decision makers commissioned by Aviva and conducted by Censuswide.

Caspar Stops, cyber underwriting manager at Aviva, said: "Cyber attacks on UK businesses are rising, with small firms increasingly targeted. While many companies are improving their own cyber defences, recent high-profile breaches often begin with vulnerabilities in third-party vendors or supply chains.

He added: “Attackers don’t care about size, they seek opportunity – meaning that unprepared organisations, regardless of size – are most at risk. Brokers have a unique opportunity to help smaller firms become more engaged and resilient.”