In this article
Key points
- More than 30,000 cyber incidents were reported in Switzerland in the second half of 2023, twice as many as in the previous six months.
- SMEs, which invest little in cybersecurity, are prime targets.
- First step: assess the vulnerabilities of your IT infrastructure.
- Second step: cover the residual risks with cyber insurance.
Cyber incidents are soaring in Switzerland, and small and medium-sized enterprises are struggling to keep up.
The second 2023 report of the Federal Office for Cybersecurity (NCSC) shows increasingly frequent and complex attacks, often reinforced by artificial intelligence, which makes fraud ever more sophisticated.
The vulnerability of Swiss SMEs
Switzerland is seen as a technology leader, yet its SMEs remain highly exposed to cyber risks. Although they are perceived as financially sound, they devote few resources to IT security: this makes them prime targets for cybercriminals, with potentially considerable losses.
A two-step approach
Assidu recommends a proactive risk reduction strategy:
- Assess the vulnerabilities of your IT infrastructure to reduce the identifiable risks.
- Take out cyber insurance designed to cover the residual risks.
Assessing IT security
An IT security assessment gives a precise picture of the strengths and weaknesses of your infrastructure. It helps SMEs understand the risks they are actually exposed to, often without realising it.
Cyber insurance for residual risks
Once the identifiable risks have been reduced, you still need protection against the residual risks. Cyber insurance covers the financial consequences of an attack:
- Data breaches and their costs.
- Recovery of lost or encrypted data.
- Legal liability towards third parties.
- Business interruption and loss of income.
In a world of constantly evolving cyber threats, insurance remains a cornerstone of risk management.
Assidu
Conclusion
By combining a rigorous risk assessment with appropriate cover, SMEs are prepared to defend themselves against cyberattacks and to respond to incidents, while protecting their operations, their clients’ trust and their reputation.
As attack techniques keep evolving, regular assessments, suitable insurance and constant vigilance build the company’s resilience over the long term.
Source: Federal Office for Cybersecurity (NCSC), semi-annual report 2023/2.
