Propertymark’s official insurance broking partner, Gallagher explores the factors that influence annual cyber defence spending and why it can be crucial to allocate sufficient resources.
Industry risks
The property sector can be particularly prone to cyber-attacks due to the client data stored. There are stringent regulatory requirements, which necessitate higher investments in cybersecurity. Additionally, businesses with a high-risk profile, such as those with a history of cyber incidents, may need to allocate more resources to cyber defence.
Existing IT infrastructure
The size and complexity of a business’s IT infrastructure can also play a significant role in determining cyber defence spend. Larger businesses with extensive networks and multiple locations can require more comprehensive security measures….
