A large number of reasons can motivate cyber attacks, which range from simple attacks by amateurs to meticulously planned attacks with an economic or political background. At the same time, new hacking methods are spreading through the net at lightning speed and are constantly evolving. A global study conducted in 2015 revealed that 61% of CEOs believe that cyber risks present a key threat.
2 Financial institutions were therefore ranked first out of all sectors in 2014 as the main purchasers of insurance against cyber risks, with average limits of $ million. 3 Banking supervisors have been bringing IT risk and cyber risk more into focus for many years now, for precisely these reasons. After all, their importance can’t be estimated highly enough.