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Deepening cyber resilience through insurance initiatives

The insurance market can enhance the management of cyber risk by promoting awareness, encouraging measurement of exposure, and providing incentives for risk reduction.

CyRiM, a government-industry-academia research endeavour that also integrates inputs from global insurance companies and IT security experts, will recommend policies to the Singapore government on advanced cyber risk protection and prevention.

IN May, the WannaCry ransomware attack affected over 200,000 computers in more than 150 countries - causing the UK's National Health Service to cancel surgeries, and impacting major businesses like Fedex, Spanish phone company Telefónica and German state railways. Just last month, Petya affected...

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