Data access a key weapon in the cyber wars1 min read

23/May/2019

Cyber insurance could offer increased protection in Europe if policymakers gave insurers access to anonymised cyber-attack data, claims industry body Insurance Europe (IE).

Speaking at the 11th International Insurance Conference in Bucharest, Andreas Brandstetter, the body’s president and CEO and chairman of UNIQA Insurance Group, said that greater access to data would help insurers refine the protection from cyber-attacks, especially as they increase in frequency and severity. Brendstetter said that a major barrier to the development of the cyber insurance market was the lack of data on cyber risks.

However, since the advent of GDPR and the NIS Directive – legislation that requires companies to report cyber incidents to the relevant authorities – a huge quantity of useful data has been collected.

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