Egypt – Insurers to fight cyber risks
Tuesday, 03 06 2018, Category: Technology, Country: Egypt
The Egyptian Financial Supervisory Authority in coordination with the Insurance Federation of Egypt is considering to protect insurance companies against cyber attacks instead of just installing technological protection through advanced systems.
“Al Mal” revealed in the end of the last month of May that the insurance market is not projected against cyber-attacks since insurers are not reinsured against these risks and just take precautionary technological measures.
Mr. Reda Abdel Moaty, Deputy Chairman at Egyptian Financial Supervisory Authority said that all scenarios are considered to provide protection and will be studied in coordination with the Insurance Federation of Egypt as the representative of insurers.
Source: Al Mal News