The General Director of the European Insurance Company Zurich Mario Greco said that as the number of cyber attacks, they will become “not subject to insurance.”
In an interview with Financial Times Mario Greco said that cyber attacks may pose a greater threat to insurers than systemic problems, such as pandemia and climate change.
“What will become non -insisted will become cybernetic. The matter is not only in the privacy of the data. There should be an understanding that this is not just data … This applies to civilization. Having taken control of the vital infrastructure, cybercriminals can seriously destroy our lives,” – Said Greco.
Greco said that the insurance of losses from the cyber attacks of the private sector has its own limit. The governments of countries need to “create private-state schemes for managing system cyberrics, which cannot be quantitatively determined, like those that exist in some jurisdictions for earthquakes or terrorist attacks”.
Study of the PymNTS financial services platform showed that 85% of healthcare organizations reported an increase in the number of risk of cyber attacks over the past year, while 58% of IT specialists said that their organizations became the goal of incomes’ attacks.
The number of extortion cyber attacks for financial organizations in 2021 increased by 108% from 602 attacks (2020) to 1251 attacks (2021). Moreover, losses from cyber attacks also increased by 68% from $ 527 million (2020) to $ 886 million (2021).