QBE Warns on Black Friday Cyber Risks

There are Black Friday deals all over the internet, even though it’s a rather grey Tuesday. But still, a QBE Insurance survey has found that more than half (54%) of Black Friday shoppers would give a wide berth to an online retailer that had had a data breach, highlighting how seriously shoppers are taking cyber security. It’s a timely alert for smaller companies or sole traders selling between now and Christmas, those hackers are out there. They mean business too. Here’s the word;

With the cost-of-living crisis likely to boost Black Friday shopping, online retailers need to up their cyber security game to protect consumer data and confidence. If not, they risk losing business – 76% of Black Friday shoppers polled said that the cyber security of an online retailer mattered to them.

Erica Kofie, Head of Cyber Proposition for QBE Europe, says: “It is crucial that online retailers are prepared for cyber attacks this Black Friday or risk losing customers. Having a strong cyber security policy is more important than ever considering the ever-evolving complexity of cyber attacks. Businesses that fail to demonstrate a strong enough cyber policy could even struggle to secure cyber insurance, leaving them vulnerable and less protected from cyber attacks.”

Results from the survey include:

  • 76% of Black Friday shoppers said that the cyber security of online retailers is important to them
  • 54% of Black Friday shoppers said that if they knew an online retailer had experienced a data leak they would be less likely to shop there
  • 55% of Black Friday shoppers said that a strong cyber security published on an online retailer’s website would make them more inclined to shop there
  • 38% of Black Friday shoppers said that they would be more likely to shop with an online retailer if they had successfully prevented and managed a cyber attack

For the survey, Opinium Research polled 2,000 UK adults from 10 to 14 November (online), including 1,301 Black Friday shoppers. The results have been weighted to be nationally representative.

About alastair walker 12514 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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