Cyber Attacks To Become “Uninsurable:” Zurich Insurance CEO

Forget natural disasters, says the CEO. Cyber is the biggest threat, and public-private systems will be needed (note recent US movement in that direction.)

“’What will become uninsurable (versus climate change or pandemics) is going to be cyber,” (Mario) Greco said. ‘What if someone takes control of vital parts of our infrastructure, the consequences of that? …this is about civilization,” he said. ‘These people can severely disrupt our lives.’”

Zurich recently settled on a cyber claim it had rejected, claiming it should be excluded due to “warlike action.”

 

Source: Zurich Insurance CEO: Cyberattacks Will Be ‘Uninsurable’