The insurance industry has evolved alongside the constantly growing economy and has adapted to the complexity that comes with the evolutions in global trade and technology advancements to stay relevant in today’s world and respond to present-day risks. Currently, cybersecurity is a growing threat and has become a top priority for executives globally. According to the World Economic Forum Global Risks Perception Survey (2023), cyber-attacks on critical infrastructure ranked fifth in terms of risks that are most likely to present a material crisis on a global scale.
