UK IT directors are largely unaware of the concept of IT insurance, according to a firm which specialises in IT insurance.

According to the admittedly impressive sample of 2,500 companies, just one in 10 firms have taken out some kind of insurance against cybercrime, hacking or virus attacks.

Scalable Networks, the company which commissioned the survey, said UK businesses were taking a dangerous gamble in not having insurance policies.

It said it was no surprise companies haven't got involved, because of the cost of auditing security infrastructure, but maintained the benefits far outweigh the outlay.

Low awareness of IT insurance - designed to keep companies financially secured against IT problems - comes despite its being recommended from as high up as the US government.