US EditionStandardised metrics needed to close $0.9tn cyber risk protection gap: Zurich
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Governments should not only rely on insurers' claims regulation if they want to be resilient in the long term, Swiss insurer Zurich writes in a recent study. In order to fully understand the threat landscape, a better data infrastructure is needed. The insurer calls on policy makers to set up national cyber statistics offices and commission them to create a real-time overview of a country's cyber security.
Standardised metrics needed to close $0.9tn cyber risk protection gap: Zurich
With the world facing a $0.9 trillion cyber risk protection gap, Zurich is calling for the adoption of standardised national cyber security metrics to close it, which would involve the collaboration between governments and the private sector. This gap highlights the vast difference between economic losses from cyber events and the minimal portion, of just 1%, covered by the re/insurance industry. In a new report titled “Enhancing cyber security:…
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