Cowbell joins ABI to strengthen position in UK cyber market

Cyber insurance provider Cowbell has joined the ABI as a member.

Cowbell specialises in providing cyber insurance propositions for small and medium-sized enterprises (SMEs) and middle-market businesses.

The firm felt that joining the ABI would allow it to help ”drive change to protect and build a thriving society” in the UK.

Simon Hughes, senior vice president of global distribution at Cowbell, said: “Cowbell is committed to protecting UK businesses against persistent and continuously evolving cyber threats.

”With artificial intelligence (AI)-driven risk assessment and tailored cyber insurance solutions, we empower businesses to stay resilient in an increasingly digital world.

”We are proud to join the ABI, alongside industry leaders, to strengthen the sector, foster greater trust and transparency and drive innovation forward.”

Growing cyber threats

The inclusion of Cowbell in the ABI comes at a time when cyber threats pose an increasing risk to businesses of all sizes.

The ABI has consistently emphasised the importance of cyber resilience, particularly for SMEs that may lack extensive in-house cybersecurity capabilities.

For example, Cowbell’s data, published in March 2024, revealed that 77% of UK SMEs did not maintain any in-house security.

Laura Hughes, head of general insurance policy at the ABI, said: “We are pleased to welcome Cowbell to the ABI membership.

”The firm’s emphasis on providing cyber insurance to SMEs is more important than ever as businesses of all sizes can be affected by cyber-attacks and data breaches.

”We look forward to working with Cowbell on our mutual priorities to mitigate these threats and to help businesses thrive.”