MAS official sets sight on expanding cyber insurance


Cyber insurance adoption has "clearly not kept pace" with the proliferation of technology in the region, an executive director at the Monetary Authority of Singapore (MAS) warned today (May 16).

Bernard Wee warned that, despite growing risks, less than 10% of small and medium-sized enterprises (SMEs) have taken out cyber insurance.

"Nevertheless," he said, "cyber insurance is gaining traction". Premiums have grown by an average of 38% a year over the past five years, reaching $2.5 billion in

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