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According to Paul Waite, co-founder of Cyber Plus, “Global cybercrime is predicted to grow from $3 trillion (US) in 2015 to $6 trillion (US) by 2021."
The recent ransomware attacks have brought cyber security – and cyber insurance – into sharp focus for SMEs. No more was it something that happened to someone else. It became real.
Cyber terrorism will be on the agenda of the government terrorism reinsurance agency, the Australian Reinsurance Pool Corporation (ARPC), as part of its tri-annual review.