Helvetia Symposium Highlights Global Threats of Cybercrime

Helvetia Holding AG recently held a symposium in Basel to discuss the growing threats of global cybercrime. Representatives from the private sector, research and government are unanimous: vulnerability to cyberattacks continues to increase. The global damage caused by attacks could exceed 1 trillion US dollars.

Insurance against cyber attacks remains insufficient, both in Switzerland and in the rest of the world. Helvetia stresses the need to strengthen the resilience of companies and individuals. Increased awareness among users and closer cooperation between companies, scientists and governments are essential.

The figures show a significant increase in cyber incidents. In Switzerland, attacks increased by 61% in 2023. The Federal Council calls for better coordination and prevention. Helvetia, having already highlighted this need, is pushing for more cyber insurance.

Martin Jara, CEO of Helvetia Switzerland, says progress has been made, but cyber insurance penetration needs to increase. Klaus Julisch of Deloitte (Switzerland) Ltd and Marc Holitscher of Microsoft Switzerland note the importance of cybersecurity and artificial intelligence in combating cyberattacks.

The speakers concluded by calling for user awareness and better preparation for the latent risk of cyberattacks. Switzerland intends to play a key role in coordinating global cybersecurity by proposing international initiatives.