Half of Britain’s Big Firms Grapple With Crisis After a Year of Uncertainty

Crises, Cyber‑shenanigans, and Corporate Confusion: A Quick Take on the UK Business Reality

Half of the UK’s big‑name companies were hit by a big crisis stick‑up in the last year—what a nightmare that is! That’s what Gallagher, the insurance, risk‑management giant, uncovered in their report “Combatting Crisis Complacency: Large Businesses’ Approach to Crisis Management.” Turns out the things that are increasingly happening to businesses aren’t just the occasional headline‑making explosions, but a steady stream of digital and industrial threats.

The Numbers Talk: 27% Muddled by Data Breaches, 18% Snooped into by Industrial Espionage

Data Breaches & Cyberattacks: 27% of surveyed leaders have faced a hack in the last 12 months.
Industrial Espionage: 18% feel the sting of competitors bleeding their trade secrets.

So why is industrial espionage a growing menace? The survey shows that 30% of firms expect to be victimised in the next year—yet there’s barely any insurance covering this angle. If you can’t shift it to your balance sheet, you better guard it yourself.

Social Media: Shield or Sham?

Most UK corporates (71%) wield social listening tools to sniff out trouble before it hits. They punch the firewalls out of every tweet, hashtag, and even virtual geofence. But, oops:

31% admit they’ve got no social‑media crisis playbook.
Only 16% have a backup channel for when their IT/phones go down.

We’re looking at a generation of companies using the internet to keep score, but forgetting the “game plan.”

Confusions & Complacency: The Big Gap in Coverage

73% have refreshed crisis plans after recent headlines, but only 30% have re‑examined the insurance they actually hold.
99% did risk assessments, yet 19% never brought a broker into that conversation.

This hints at a misunderstanding about what “crisis insurance” actually packs.

Pool Re: The Myths About What It Covers

85% of companies think Pool Re will cover financial loss from a terrorist attack.
64% mistakenly believe that data loss is also covered.
61% think reputational damage falls under its umbrella.

Reality check: Pool Re does NOT cover data damage or reputational harm. Half a world of confusion.

Management’s Word‑to‑Action Snapshot

Paul Bassett, Gallagher’s Managing Director of Crisis Management, says:

“The UK’s large businesses know they’re in a knotty, ever‑shifting threat world.”
“Protocols, risk‑maps, and assessments are happening, but a big blind spot persists: the insurance side.”
“Companies still keep most of their crisis coverage in the dark, exposing them to danger.”

He urges companies to:

Engage specialists when reviewing coverage.
Bring brokers into risk reviews, not just afterthoughts.
Build resilient, holistic protocols that protect people, tech, and reputation.

The truth is, no one can lock out data breaches, terrorist cameos, or industrial snoops entirely. But if you prepare, respond, and stay in sync with your insurers—and keep an eye on the social media pulse—you can survive and still keep your brand looking sharp.