Cyber fears, attacks and threats grab the headlines daily. Can the insurance industry rise to the challenge? Cybercrimes are estimated to cost the global economy US$445 billion. Though the industry doesn’t have that kind of capital to pump into cyber products, it has a duty to respond to these cyber threats ranked in several markets as the Number One priority risk concern.

For the insurance industry, it has to identify the insurable risks in the cyber space with digitisation being the buzzword world over with increased interactions and connectivity and boundless risks. E-commerce, wearable devices, mobile and cloud services and Ashley Madison data breach are routine examples of risk exposures with sensitive data that can be so easily exploited. The public is screaming for cover and protection.

This Asia Cyber Risk Summit is aimed at making the industry more aware of the massive exposures, real and hidden threats and to provide an interactive platform to discuss the key issues in cyber and legitimate business solutions the insurance industry should and can provide. More importantly, how actively selfprotected are insurers who are information-sensitive and information-intensive. Are insurers cyber resilient and can they offer cyber-resilient coverages to help corporates and individuals?