The latest from Premierline, who are counting the cost of the M&S cyber breach. There could be other factors affecting its margins of course like the lowering of the NI threshold, a dreary clothing offer, or rising store overheads. But any business would be wise to check if specific incidents or scenarios can be insured. Here’s the word;
Following the news that M&S profits halved following the attack in April, ONS figures have revealed a stark rise in cybercrime for 2025, with major businesses in the retail, logistics and marketing world impacted.
Unfortunately, the digital landscape has become a battlefield for UK businesses as cyberattacks rise sharply, with nearly half of companies (50%) and a third of charities (32%) reporting security breaches or attacks over the past 12 months.
Premierline, a leading business insurance broker operating across several pivotal industries, has recommended that businesses invest in cyber insurance to protect their livelihoods.
Rebecca Leversidge from Premierline commented: “The recent surge in cyberattacks – and drastic consequences – serve as a stark reminder that no business is immune to digital threats. As companies become more reliant on technology to operate and grow, they also become more vulnerable to cybercrime, with M&S claiming £100m of insurance money which would have been fundamental to their continuation.
At Premierline, We’ve seen a 130% year-on-year rise in businesses turning to cyber insurance, reflecting the growing awareness that this type of cover isn’t a luxury, but a necessity. Cyber insurance can help cover financial losses and provide expert support when it matters most, helping businesses recover quickly and confidently after a breach.
And, with major companies such as M&S continuing to experience ongoing issues weeks after the initial attacks and losses of up to £300 million, this is indicative of how dangerous data breaches and operational disruptions can be.”
What Cyber Insurance Covers
Premierline highlights the key protections offered by cyber insurance, may include:
- First-party losses: Financial damages due to cybercrime, such as theft or data corruption.
- Third-party liabilities: Legal costs and claims brought by affected customers or partners.
- Business interruption: Compensation for lost revenue during IT downtime or after a breach.
- Incident response: 24/7 support from cyber specialists to manage and recover from attacks.
- Cyber extortion: Coverage for ransomware payments and associated recovery costs.
Cyber Insurance: A Strategic Investment
Rebecca continued, “While the cost of cyber insurance will vary depending on your industry, business size, and the level of cover required, the potential cost of inaction is far greater. Data breaches and downtime don’t just result in immediate financial loss, they can also damage your reputation and customer trust long-term, leading to ongoing or permanent issues.
“Cyber insurance offers more than just peace of mind. It ensures your business has access to expert-led recovery, financial protection, and continuity support when faced with a cyber event. In a landscape where threats are rising and even the biggest brands are vulnerable to strategic attacks is not just sensible – it’s essential.”
Stay Protected in 2025 and Beyond
Premierline urges businesses to take proactive steps by reviewing their exposure to cyber risks and exploring tailored insurance solutions that meet their specific needs. By acting early and investing in robust cyber protection, companies can strengthen their resilience and reduce the risk of long-term disruption.
Browse our insurance products today to find one that suits the needs of your business.
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