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Cybersecurity and Insurance in Asia
The digital revolution has brought immense opportunities for businesses across Asia, driving unprecedented growth in sectors such as e-commerce, fintech, and telecommunications. However, with the rise of digital infrastructure comes an equally significant increase in cyber threats, making businesses more vulnerable than ever before. In today’s hyperconnected world, data breaches, ransomware attacks, and other forms of cybercrime are no longer isolated incidents — they are an ongoing and evolving threat.
Businesses in Asia, regardless of size, are increasingly recognising the importance of cybersecurity insurance as a key pillar in their risk management strategies. The question is no longer if companies will face a cyberattack but when. With cybercrime becoming more sophisticated, the need for protection through cybersecurity insurance has never been greater.
The Escalating Cybersecurity Risks in Asia
Asia has seen a dramatic increase in digital adoption, particularly since the COVID-19 pandemic accelerated the move towards remote work and online services. But as businesses and consumers became more reliant on digital platforms, cybercriminals took advantage of new vulnerabilities. A report from Cybersecurity Ventures highlighted that Asia-Pacific (APAC) is now the world’s largest target for cyberattacks, accounting for 25% of the…
