AN ESTIMATED three-quarters of small and medium-sized firms in the North West could be footing huge bills because they are not protected from the escalating threat of cyber-vandalism.
Risk managers Smithson Mason group say that while most companies hold "all risk" property policies which cover electronic equipment and loss of data, in many cases companies are not aware that cover does not extend to losses incurred by computer viruses.
A recent study found 67 per cent of companies had encountered a virus or "cyber-vandalism" in the last year and that 87 per cent had received the virus via e-mail.
The typical cost for a business affected by a virus such as Melissa, Love-bug or Kak-worm is £15,000.
Neil Durrant, of Altrincham-based SMG, said: "While breaches of IT security are on the increase, both in number and severity, many organisations are unaware of their weaknesses.
"With e-commerce playing such an integral part in the modern business, it is important for companies to make sure they are sufficiently insured against cyber damage.
"Some companies create problems for themselves in their eagerness to keep up with the latest trends."
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