Middle market businesses across the UK and Ireland (UK&I) are pursuing ambitious growth while navigating a complex mix of risks and widespread disruption, according to Chubb’s 2026 Middle Market Risk Radar.
The survey confirmed businesses are in growth mode, while also experiencing significant levels of disruption. More than nine in ten of those surveyed by the global insurer have experienced at least one of the disruptive incident types explored in the research over the past three years, spanning business disruption, cyber incidents and climate-related impacts.
That disruption has emerged during a buoyant period. Almost all (97%) plan to add new products or services over the next 12 months, while 89% expect to increase their workforce and 82% are looking to expand internationally or enter new markets.
As businesses pursue these growth ambitions, managing risk is understandably high on the agenda. Cybersecurity emerges as the most significant concern, cited by 70% of businesses surveyed, followed by economic uncertainty (64%), talent acquisition and retention (62%) and operational risk (61%).
Businesses also report confidence in their levels of preparedness for a number of adverse events, although the picture is mixed. More than seven in ten feel completely or very prepared for incidents such as cyber attacks and major IT outages but preparedness is lower for natural catastrophes, extreme weather events and reputational damage.
“Middle market businesses in the UK and Ireland are clearly ambitious, but our survey shows just how commonplace disruption has become. Growth inevitably changes a business, from the markets it operates into its reliance on technology, suppliers and other partners. Understanding those dependencies, planning for disruption and making sure insurance protection reflects how the business is evolving are all important parts of building resilience,” said Andy Houston, Head of Commercial Insurance, UK&I, Chubb.
Cyber risk is particularly pronounced among mid-sized businesses, with 81% rating cybersecurity, data privacy and financial crime as a major or significant risk. Smaller businesses are less concerned, with just 52% rating cyber risk highly. Experience of cyber incidents is also widespread: phishing or business email compromise was the most commonly reported cyber event, experienced by 42% of businesses surveyed, whilst 37% reported disruption caused by a cyber incident affecting a supplier or technology provider.
Chubb’s 2026 Middle Market Risk Radar
The potential financial impact of cyber incidents is also increasing. Chubb’s 2026 Cyber Claims report found that the average value of cyber claims for mid-sized businesses in Europe and the UK tripled between 2020 and 2025. Yet approaches to cyber insurance vary. Only 36% of UK&I businesses surveyed say they have a cyber policy that is regularly reviewed and tailored to evolving business risks.
Jimaan Sané, Head of Growth, Global Cyber, Chubb says, ”Experience can be a powerful catalyst for action. Our research shows experience is the best teacher. Firms that had suffered a cyber incident in the past were nearly two times more likely to have a tailored cyber insurance policy in place. The challenge is helping businesses understand and prepare for their cyber exposures before an incident occurs, ensuring their protection is in place and evolves alongside the risks they face.”
International expansion is another important part of the growth picture. Almost eight in ten (79%) UK&I businesses surveyed operate internationally yet, among those, 19% say they do not have insurance in place for their overseas operations. The findings reflect the fact that as businesses enter new markets, their exposures can change too, making it important to consider how insurance arrangements respond and evolve across different territories.
Taken together, the findings underline the importance of ensuring risk management and insurance protection keep pace as businesses grow and their risk profiles evolve. The full Chubb 2026 Middle Market Risk Radar explores these themes in more detail, including cyber, climate-related risk and international expansion.
