Covid-19: Insurers in the face of cyber attacks

In the 2020 edition of its report on emerging risks, AXA ranked cyber attacks in the third position after health risks and climate change.

The coronavirus pandemic is aggravating cyber attacks due to the rapid development of teleworking, which is a major target for hackers.

Consequently, AXA believes that the insurance market cannot face cyber risks alone. State support is deemed necessary to compensate companies that sustain this type of loss.

In addition, the premiums collected to cover companies against cyber attacks are very low compared to the damage they could cause.