CyberCube: Global insurance industry can play greater role in setting cyber standards

Cyber analytics company CyberCube is calling for the international insurance industry to take a greater role in shaping the cybersecurity landscape. The company recently published a report, entitled “Scoping a Cyber Catastrophe: Understanding the Societal Impact of the Fourth Industrial Revolution and The Role of Insurance,” exploring society’s increasing exposure to digital risks, and what measures the insurance industry can take in order to address the issue. According to the report, $1.25 trillion was spent on digital transformation by organizations around the world in 2019. That figure is projected to rise to $1.97 trillion by 2022.