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Cyber attacks to become uninsurable as disruption grows: Zurich CEO

Posted On: Dec. 27, 2022 9:18 AM CST

Mario Greco, chief executive at Zurich Insurance Group Ltd., has warned that cyber attacks, rather than natural catastrophes, will become uninsurable as the disruption from hacks continues to grow, reports citing The Financial Times. Losses from cyber attacks in recent years have also prompted underwriters to limit insurers’ exposures. Insurance executives have raised concerns about this expanding risk as recent attacks have targeted hospitals, pipelines and government departments.