According to Europes leading insurance company, European Insurance Products Association, the risk of cyber attacks on insurers is not just minimal, but low and manageable.
Europes biggest insurance company Europes insurance company European Insurance Services (EISA) has recently released a new study which has revealed that only about one percent of insurance claims are deemed as cyber-related.
The remaining 70 percent are treated as routine, or are considered to be due to a normal event.EISA’s findings, published in the latest edition of its annual report on Cyber Insurance, were based on information from the company’s insurer, KPN.
The study showed that cyber attacks in insurance claims do not pose a risk to insurers or the public, and that there are around 500 insurers that are fully compliant with the latest cyber-insurance standards.
According to EISA, insurance companies should not only monitor their networks and their processes to make sure that their systems are safe, but also take the necessary steps to protect their networks from cyber attacks.
It said the companies should also monitor their own systems and processes, as well as the behaviour of their customers and potential customers.
In the same report, EISA said that the European insurance market is the fastest-growing in the world.
EISA expects the market to grow by over 6 percent per year from 2020 to 2024, and by 8 percent per years from 2025 to 2024.
According to the company, the market is expected to grow at a compound annual growth rate (CAGR) of about 8.6 percent per annum.
In terms of the most recent cyber attacks, the insurance industry has responded with a slew of measures to mitigate the risks of cyberattacks.
The largest, and perhaps most important, of these measures is to strengthen their internal cybersecurity and cyber security awareness.
It has been reported that the latest major cyber attacks hit the European Union last week, affecting some 28 million people.
As reported by ITworld, the recent cyberattacks were in fact part of a cyberattack that took place on the German insurance giant Munich Re, which is the third-largest in Europe after United Kingdom and France.
In this case, the attackers had managed to hack into the Munich Re’s network and hijacked the company system.
This was not the first time that Munich Re had suffered a cyber attack.
In October 2016, a security breach in the company had caused the death of one of its employees.
Munich Re was the target of a massive cyber attack on its network in 2016, which was in turn caused by a hack by a group called the Shadow Brokers.
In 2016, Munich Re also suffered a massive hack of its network.
According for the latest EISA research, the main risks associated with a cyber-attack are:The risk of being breached in the insurance business is minimal.
However, the most important risk is the risk that a cyber attacker will use this vulnerability to gain access to a company’s internal systems and systems to steal the personal data of the company employees and/or the financial assets of the insurer.
It is also important to note that, in this case the attackers were able to steal some personal data and financial assets.
In a similar report, the Munich Insurance Group also confirmed that its insurers are in compliance with the cyber insurance standards, which means that they have not experienced any cyber-attacks that resulted in damage to their networks or systems.