Mandatory cyber insurance for Turkish SMEs

Local insurance company executives are calling on the government to set up a mandatory cyber risk insurance for SMEs (small and medium-sized enterprises).

Data from US cybersecurity firm WatchGuard, shows that the number of cyber attacks in Turkey jumped by 81% in 2020. Moreover, 75% of SMEs do not benefit from a cyber coverage.

Turkey holds more than 3 million SMEs, 43% of which are heavily affected by malware attacks. Experts in the industry say the level of cyber security awareness is very low.