Zurich says cyberattacks will become “uninsurable”

Underwriters continue to struggle with pricing insurance policies around cyber risk as Zurich deems them “uninsurable”. Mario Greco, speaking on behalf of Zurich Insurance, warned of the consequences of dark agents taking control of vital parts of their infrastructure. Cyber is now classed as the most important global business risk for 2023, and premiums have risen by 74% year on year. Underwriters say they don’t have the tools to appropriately address cyber risk. Mycena CEO Julia O’Toole shared her thoughts on the matter of risks.