Egypt – No insurance against cyber attacks
Tuesday, 05 30 2017, Category: Technology, Country: Egypt
The Egyptian insurance market does not offer any insurance policy against cyber attacks. At the same time insurance companies did not reinsure their IT systems abroad and they just took preventive measures from a technological point of view.
Mr. Abdul Rauf Kotb the President of the Insurance Federation of Egypt and CEO of “Egyptian Saudi Insurance House” said that no cyber insurance is available at his company indicating that that these risks can be studied technically through special committees of the Federation.
Moreover, he indicated that his company has a high quality IT system but he denied securing an insurance or reinsurance cyber coverage abroad.