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SMBs don't see need for cyber insurance since they won't experience security incidents

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简介Getty Images/iStockphotoBelieving they will not encounter cybersecurity incidents, small and midsize...

Getty Images/iStockphoto

Believing they will not encounter cybersecurity incidents, small and midsize businesses (SMBs) do not see a need for cyber insurance. 

Among 39% of SMBs in Singapore that are not considering or remain undecided about getting protection against cyber risks, half say it is because they are unlikely to experience cybersecurity or cybercrime issues. Another 54% say they do not store sensitive or personal data online and, hence, do not see a need for cyber insurance. 

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