MUNICH: The overwhelming majority of firms in Germany and plenty of different nations fear a cyber attack, in accordance with an organization survey carried out by reinsurer Munich Re, reported dpa information.
The survey gathered information from companies in 15 nations. 72% of the taking part managing administrators and board members responded that they’re nervous or very nervous about attainable cyber assaults, the Munich-based DAX-listed firm introduced on Friday.
More than half admitted that their respective firm had already been attacked by cyber criminals previously. Data theft got here first, adopted by on-line fraud and blackmail utilizing encryption software program.
In December, Munich Re had a complete of 7,500 managers and workers surveyed by the statistics firm Statista; nearly 40% of the members have been “C-level” managers within the higher echelons of their respective firms.
However, not all managers in all nations have been equally involved: in Sweden, the determine was solely 35%, in comparison with 90% in Spain. In Germany, the determine was slightly below 2% at 65%, roughly akin to the US, UK or Japan.
An even bigger majority of 87% consider that their very own firm is inadequately protected in opposition to cyber assaults, and on this respect the variations from nation to nation have been much less pronounced: In Germany and China on the high of the desk, 95% of survey respondents affirmed this, whereas in Italy on the decrease finish it was nonetheless 80%.
Munich Re has a vested curiosity within the matter, because the Group affords insurance coverage in opposition to cyberattacks and expects the worldwide premium earnings of the insurance coverage trade within the cyber sector to double within the coming years: from US$14 billion in 2023 to US$29 billion in 2029.
However, the authors additionally point out within the report {that a} quantity of firms haven’t taken out cyber insurance coverage as a consequence of excessive prices or different causes.
