If vital infrastructure is attacked, human lives are also at risk. The governments have to bear the risk themselves, says Zurich boss Greco.
According to the insurance group Zurich, cyber attacks will become “uninsurable”. “What are the consequences if someone takes control of vital parts of the infrastructure?” CEO Mario Greco told the Financial Times in an interview published on Monday. It’s not just about data. Cyber attacks could also endanger human lives.
Greco said there is a limit to which the private sector can absorb any losses caused by cyberattacks. He therefore called on governments to create “private-public systems to handle systemic cyber risks that cannot be quantified, similar to those that exist in some countries for earthquakes or terrorist attacks”.
