Brazilian companies have never been so concerned about hacker attacks, according to a survey released this Thursday (26) by the National Confederation of Insurance Companies (CNseg).
According to the confederation’s survey, the demand for cyber insurance grew by 41.5% in the first three months of 2022, when compared to the same period last year.
The study exclusively obtained by the CNN shows that Brazilian companies spent approximately R$34.5 million on insurance against cyberattacks in the period. In March alone, insurance companies in the sector raised R$ 13 million.
“We will still have great growth in the sector. Cyber-attacks have been increasingly frequent and the protection offered by insurance is an added peace of mind for companies to avoid further losses”, says Dyogo Oliveira, president of CNseg.
Cyber insurance has had a “boom” in demand since the beginning of the Covid-19 pandemic, growth influenced by social isolation and, consequently, by the introduction of hybrid work.
According to technology specialist Arthur Igreja, with the increase in the number of external accesses to the companies’ network, the systems became more vulnerable.
“The pandemic has brought hyperdigitization, the growth of digital channels, e-commerce, that is, it has become an increasingly important channel for the company’s revenue stream. The remote work also adopted by companies has increased the need for insurance, as the increase in external access makes life easier for hackers”, said the expert.
Despite the sector’s good results, Arthur Igreja still sees the cyber insurance market in Brazil as “shy”.
“Compared with the size of this market globally, it is evident that Brazilian companies are still not making this type of investment, they are not making this specific protection. Finally, we can say that we will have a great growth. But unfortunately, more because of the pain, with more companies affected and having their images scratched”, concluded Igreja.
Source: CNN Brasil
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