In a statement, Mr Rene Swindley, Director of Frank Risk Management, said: “Cyber and technology related losses are a major threat to New Zealand business.” He believes that business owners are too relaxed about cyber risk and that it often takes a costly lesson before SMEs realise the impact on their operations. He said “This attitude can result in dire situations such as the business being unable to access its mission critical software or client data. Having good cyber risk management procedures in place joint with the safety-net provided by cyber insurance cover is a relatively simple task but one mostly ignored by the SME sector.”