The latest Government crime figures released today show a rise in recorded crime due to cyber offences being recorded for the first time.
Commenting on the figures, Matt Cullen, Head of Strategy, Association of British Insurers, said:
"Cyber crime is increasingly putting businesses at risk and causing financial hardship for families. For some businesses, hackers are now the biggest crime threat they face.
"Cyber insurance is growing because it is a complete package - helping firms thwart the criminals and providing the finance and technical support to recover from any hack or data loss."
The ABI is hosting a Cyber insurance webinar on 21 October 2015 - register your place now.