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Companies must ramp up cyber security to become insurable: Marsh

Posted On: Jan. 13, 2023 9:40 AM CST

Cyber security

Carolina Klint, risk management leader for continental Europe at broker Marsh LLC, said that businesses must ramp up their security measures to be considered for cyber insurance as the volume of attacks reaches new levels, Computer Weekly reported. The cost of cyber risks insurance has also rocketed as demand outstrips supply. According to insurers, cyber risk is systemic and uninsurable, and this means that companies may not be able to find cover for risks such as ransomware in future.