Reality: Cyber risk is now a day-to-day business risk for every company, not just “tech firms” or big corporates. If your business uses email, online banking, cloud storage, card payments, accounting software, a website, remote access, or holds customer details, then you have a cyber exposure. It’s simply part of trading in 2026.

And the uncomfortable truth is that most incidents don’t start with sophisticated hacking. They start with something ordinary: one email that looks genuine, one weak password, one rushed payment, or one laptop going missing.

For many SMEs, the most common scenario is email compromise. A fraudster gains access to (or convincingly impersonates) a mailbox and uses it to request urgent bank detail changes, a “new” invoice, or a last-minute payment. Because it looks like a normal supplier or colleague conversation, it slips through. The losses can include the payment itself, the time spent investigating, disruption to trading, and the cost of reassuring customers.

Another common loss is invoice fraud (sometimes without mailbox access at all). Criminals intercept or imitate invoices and swap bank details. The customer pays the wrong account, and everyone only realises weeks later—creating disputes, cashflow issues and sometimes a breakdown of relationships.

Then there’s ransomware—still a major threat, but often delivered via surprisingly simple routes: phishing emails, compromised passwords, or unpatched software. Even if no data is “stolen”, systems can be locked, backups can fail, and you can’t trade. For many firms, being unable to access accounts, schedules, files or customer records can be as damaging as a physical fire.

Cyber incidents also include accidental data breaches—sending information to the wrong person, misconfigured cloud folders, a lost device, or an ex-employee still having access. These can create legal and compliance issues, plus reputational damage.

What does cyber insurance do? It varies by insurer, but a well-structured policy is as much about rapid support as it is about the claim payment. It can provide access to specialist incident response (IT forensics, legal advice, breach support, and PR), as well as cover for certain costs and losses—such as restoring systems, cyber business interruption, and liability arising from a data breach.

What to do next (and how we can help)

1. Assume it’s relevant to you. If you use email and online banking, you’re exposed—simple as that.

2. Quick wins: turn on MFA (email first), verify any bank detail changes via a trusted phone number, and make sure backups are tested.

3. Check your cover. Many firms assume they have cyber protection because “it’s in the policy somewhere”. Often it isn’t—or it’s limited.

4. Talk to us. We can help you understand what level of cyber cover is appropriate for your business, what insurers expect from you in terms of controls, and we can obtain quotes and options so you can make an informed decision.

If you’d like to talk this through or find out more about this or anything else, call your usual contact at Park, or one of the team here.