The head of the Association of British Insurers has called on the government to create a database where companies would have to record details of cyber attacks. Cyber threats are a growing worry for UK business, and demand for insurance to cover the costs is rising. But some insurers are nervous about offering cover because of a lack of information about the attacks that are taking place. “We have 350 years of fire data and 100 years of motor and aviation data, but we have just a few years of cyber data,” said Huw Evans, ABI director-general, speaking to the Financial Times. “How do you build a business model in such a data light environment? Nothing scares an insurer more than a lack of data.”
View full story
ORIGINAL SOURCE: The Financial Times
