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Is state intervention needed for cyber insurance?

The Gherkin is built on the site of the former Baltic Exchange damaged by an IRA bomb, an event that led to the creation of Pool Re, a terrorism reinsurance scheme backed by a state guarantee. Photo: Getty Images

A systemic attack could be too large, too widespread, to be insured.

1 November, 2023 by Ian Smith

Hackers sneak malicious code into global payments software that spreads rapidly to tens of thousands of partner networks at banks and throughout the financial sector. This opens a back door for the attackers to siphon off customer funds, disrupting clearing and even interbank lending. It takes