Cyber Risk Insurance: A market that is struggling to take off despite increasing risk – Journal de l’assurance


Alexis Héroux, Client Service Manager at BFL CANADA, was quoted in a Journal de l’assurance article regarding the cyber risk insurance market.

 

In spite of the increasing risk, the reluctance of small businesses and the legislative environment are preventing cyber risk insurance from taking off. “We talk about attacks against big companies precisely because they are big, but small companies are much easier targets for pirates, says Mr. Héroux. If they conduct an attack for economic purposes, they concentrate on small and medium size companies in order to extort money. Large attacks usually only serve the image and reputation of a group of pirates, but that is not what makes them the most money.”

 

To read the full article (in French), click here.

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