Cyber security: An insurance perspective
Cyber incidents are becoming increasingly frequent and widespread and the losses caused are increasing. All industries and all manner of businesses are susceptible. It is prudent for companies and insurers to view such incidents not so much as ‘if’ they should occur, but rather ‘when’ they will occur. It has been estimated that the global cost of cyber-related crime will rise annually to USD3 trillion by 2021. Although cyber incidents are a worldwide issue, it is fair to say that the Middle East is experiencing higher levels of cyberattacks in relation to the global average.
In our video below, Justin Whelan answers 10 questions relating to cyber security from an insurance perspective:
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