Insurers reluctant to cover cyber-risks

Insurance companies are reluctant to cover cyber-risks. The accumulation of claims and their rising cost (+8%) is a threat to insurers who still have a poor management of the risk.

Allianz's Risk Barometer 2019 places cyber-risks at the top of insurers' concerns. Risks linked to climate change are ranked second.

The Association for Enterprise Risk Management and Insurance (Amrae) notes a decline in the number of cyber-risk coverages suggested by insurers. The latter's commitments are said to have fallen, in some cases, from 30 to 15 million EUR (from 33.4 to 16.7 million USD).

On average, data hacking is believed to cost 42 million USD per million stolen recordings.