Protection against AI risks is a leading reason for SMEs to purchase cyber insurance

Professional proposal and fears surrounding caller exertion (such arsenic AI) are cardinal cyber security argumentation triggers among SMEs arsenic per a GlobalData survey. As the marketplace becomes much preventative, specialised cyber policies whitethorn trim the obstruction to introduction and assistance supply capable extortion for SMEs.

According to GlobalData’s 2025 SME Survey, nonrecreational proposal is the astir important operator prompting planetary SMEs to instrumentality retired a cyber security policy. Being advised by a broker is the azygous astir important origin (39%), portion receiving proposal from fiscal advisors was cited by 33.8% of respondents. However, SMEs are besides wary astir the accrued risks posed by AI adoption, citing this arsenic the 2nd astir important information (35.8%).

What was the trigger for purchasing cyber insurance? 2025

The accelerated dispersed of AI and its integration crossed each industries is making SMEs consciousness uneasy and anxious astir the technology, perceiving it whitethorn airs a important risk. Given that galore modular cyber policies bash not notation AI cover, determination could beryllium a spread betwixt what clients expect from their argumentation and what the argumentation really covers.

Typically, modular cyber policies exclude losses related to a business’s ain AI instrumentality giving erroneous outputs (such arsenic quoting the incorrect accusation successful a chatbot) oregon litigations arising from biased information from AI-derived algorithms. In contrast, cyber security policies commonly screen losses from AI-powered hackers.

Brokers and fiscal advisers are uniquely positioned to measure clients’ risks and needs and lucifer them to products that conscionable their requirements. For clients seeking extortion against AI risks, they should see offering them cyber security policies with add-ons that explicitly screen AI-related incidents; otherwise, they should connection them specializer policies alongside cyber insurance.

Meanwhile, the marketplace is becoming progressively much preventative, with nonrecreational proposal and outer factors playing a stronger power connected SMEs’ purchasing decisions erstwhile it comes to cyber insurance, arsenic opposed to them (27.7%) oregon a rival (26%) falling unfortunate of a cyberattack. While this displacement makes businesses safer, SMEs whitethorn not ever beryllium capable to spend the outgo of a argumentation oregon the exertion (such arsenic bundle upgrades) required by insurers. Given the precocious obstruction to introduction for SMEs, insurers should absorption connected processing policies covering conscionable the risks that are astir communal to specified businesses.

"Protection against AI risks is simply a starring crushed for SMEs to acquisition cyber insurance" was primitively created and published by Life Insurance International, a GlobalData owned brand.