Insurers looking to provide cover in the evolving cyber insurance arena need more data, policy and legal clarity, according to Kareline Daguer, insurance director within Deloitte’s EMEA Centre for Regulatory Strategy. Speaking exclusively to Insurance Times following the publication of the professional services firm’s Financial markets regulatory outlook 2024 report on 9 January 2024, Daguer said there is a “very significant cyber insurance gap”. The research additionally highlighted that emerging technologies are also heightening the risk of cyber attacks. Daguer told Insurance Times: “We are seeing a definite increase in cyber attacks, many of [which] are state sponsored.”State sponsored cyber attacks have become more visible as a result of action taken during the ongoing war between Russia and Ukraine. Its Cyber conflict and the erosion of trust report, published on 15 January 2024, highlighted that 24% of global cyber attacks originate from China, while the Russian Federation was the source of 15% of the world’s cyber attacks.

Source: The Times February 14, 2024 07:27 UTC