Cyber ​​insurance as protection against financial damage caused by cyber attacks - A financial expert explains why cybersecurity is becoming increasingly important for companies.

Cyber ​​insurance as protection against financial damage caused by cyber attacks - A financial expert explains why cybersecurity is becoming increasingly important for companies.

Vienna (OTS) - In a high-profile panel discussion at DONAU Insurance, State Secretary for Digitalization Florian Tursky and other experts examined the question of how companies can protect themselves despite increasing cybercrime and what role their own employees play in this.

In an increasingly digitalized world where data has become a valuable asset, cybersecurity plays a crucial role. Cyber ​​attacks are now on the agenda for companies: around 50 percent record attacks several times a month. In addition, the methods of organized cybercriminals are becoming increasingly sophisticated and subtle.

The best firewall is of little use to a company if the employees are inadequately trained. Technical optimization to detect and defend against cyberattacks forms the basis for IT security. Training and raising awareness among employees to recognize potential fraud or attacks is another pillar of preventing damage. Cyber ​​insurance is becoming increasingly important, especially for SMEs, and is an essential part of prevention through regular risk analysis. Financial damage as a result of a cyber attack is becoming increasingly serious.

According to a report by www.ots.at, it is clear that companies face major challenges in an increasingly digitalized world. Due to the increased volume of data and the increasing networking of technologies, the risk of cyber attacks is also increasing. It is estimated that more than 75 billion devices will be connected to the internet worldwide by 2025, which could have a massive impact on businesses and infrastructure. Small and medium-sized companies in particular are vulnerable to cybercrime because they usually do not have their own IT department and have little experience in dealing with such attacks.

The panel discussion highlighted the importance of digital education and employee awareness in order to recognize and ward off cyber attacks. It is also necessary to develop new skills in dealing with cybercrime to meet the new challenges. Cyber ​​insurance is seen as an important part of prevention because it can cushion financial damage in the event of an attack. This shows how important it is that companies and employees invest equally in their digital security.

It is essential that companies and governments work closely together to strengthen digital security and build the skills needed to effectively counter cyberattacks.