The State of cyber security in the UK 2023 report, from iomart and Oxford Economics has painted a picture of businesses in the healthcare sector struggling to balance their security budgets, as cyber incidents increase. Over two-thirds (69%) of businesses questioned for the report revealed they spent more than £25,000 a year on cyber protection, such as vulnerability assessments, penetration testing and red team engagements. Despite this 31% of healthcare executives say their security budgets are inadequate to fully protect them. The report surveyed 45 healthcare executives. A quarter of those agreed that budget constraints remain one of the biggest barriers for improving cyber security. Notably, 64% reported a rise in cyber insurance premiums over the last two years – adding up to one of the biggest financial outlays for many healthcare firms when it comes to cyber protection.
The State of cyber security in the UK 2023 report, from iomart and Oxford Economics has painted a picture of businesses in the healthcare sector struggling to balance their security budgets, as cyber incidents increase. Over two-thirds (69%) of businesses questioned for the report revealed they spent more than £25,000 a year on cyber protection, such as vulnerability assessments, penetration testing and red team engagements. Despite this 31% of healthcare executives say their security budgets are inadequate to fully protect them. The report surveyed 45 healthcare executives. A quarter of those agreed that budget constraints remain one of the biggest barriers for improving cyber security. Notably, 64% reported a rise in cyber insurance premiums over the last two years – adding up to one of the biggest financial outlays for many healthcare firms when it comes to cyber protection.