Cyber insurance company CFC has introduced a new tool aimed at helping brokers connect better with small and medium-sized businesses (SMBs) about the risks of cyber threats. The initiative focuses on making cyber risk information clearer and more relevant to these smaller companies, which often find traditional reports full of confusing stats and jargon.
Called Cyber Threat Reviews, these reports offer detailed insights tailored to each business. Instead of giving broad industry data, CFC’s security team monitors threats continuously and provides a snapshot of risks specific to an individual company. The reports highlight dangers that could lead to insurance claims and explain technical details in simple, everyday language that business owners can easily understand.
This tool addresses a big issue in the SMB market. Many small businesses aren’t familiar with cyber insurance—28% said they had never been offered it, 26% didn’t know it existed, and 23% found policy details confusing. Despite this, there’s a strong chance for growth: 82% of businesses with 500 or fewer employees don’t have cyber insurance now, yet over half of those uninsured say they are very likely to get a policy within the next year.
The need for better protection is clear. Ransomware attacks, where hackers lock up companies’ data until a ransom is paid, are on the rise. Experts expect the number of publicly known ransomware victims to hit over 7,000 by 2026, up from just over 5,000 in 2024. The cost of these attacks is also climbing, with the average ransomware incident becoming 17% more expensive in early 2025, even though the total number of claims dropped by more than half. This means attacks are getting more targeted and costly.
Lindsey Maher, CFC’s head of global cyber development, says the reports help close the knowledge gap by giving clear, personalized advice without any tech jargon. The company hopes this will help brokers reach more SMB clients and increase the number of businesses protected by cyber insurance.
Initially, these Cyber Threat Reviews will be included with every cyber insurance quote for small and medium-sized enterprises from CFC’s underwriting team. The company plans to make the reports available more widely through various trading platforms soon.
With cyber risks growing and many smaller businesses still unprotected, tools like this could make a big difference in helping companies understand their vulnerabilities and get the coverage they need.