AXA Chief Warns Of 'Cyber Pandemic' And Urges Cooperation

Law360, London (November 4, 2020, 1:25 PM GMT) -- The chief executive of French insurer AXA has said that cyberattacks and virtual crime will become the "next digital pandemic" and cause devastating losses to industry on a par with COVID-19 if insurers do not take action.

The insurance sector must focus on protecting companies and markets from cybercrime, AXA Chief Executive Thomas Buberl said. Virtual attacks pose a threat at the same level as the coronavirus crisis, but the sector is ill-equipped to cope, he warned.

"Cyber is the next digital pandemic, and we have only seen the beginning of what is to come," Buberl said at an online event hosted...

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