One signal

AI-enabled cyber attacks are the risk UK insurers feel least prepared to manage, according to a KPMG survey of more than 100 insurance leaders. Thirty per cent named them as the risk they were least ready for, ahead of climate-related catastrophes and technology system failures.

The survey also found that 60% want stronger cyber resilience to be a priority over the next year, while 45% highlighted improved AI governance and oversight. AI is both the threat insurers are worried about and, for 30% of respondents, the technology with the greatest potential to strengthen resilience. A rather busy double act. The findings were reported by CIR Magazine on 26 October. They describe respondents’ views, not a measure of how often attacks succeed.

Discuss: Should insurers put more effort into sharing cyber-threat information, or is competition too important to set aside?

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