Zeynep Özek, Assistant General Manager at Chubb Turkey, evaluated Turkey’s cyber risk profile. Stating that companies all around the world received serious cyber-attacks and total amount of losses caused by cybercrimes reached 600 billion TL, Zeynep Özek reminded that Turkey was also a target country for those attackers.

 Özek said that according to the statistics announced by ATLAS, the International Cyber-Attack Intelligence Network, 7.5 million DDoS attacks to block online access occurred worldwide in 2017 only: “During 2017, Turkey received DDoS attacks 475 times a day, 20 times an hour and 3 times a minute. Our country experienced serious problems in this area in recent years. Experts and authorities are already evaluating the potential cyber security risks; and working towards developing preventive measures and solutions for both insider and outsider threats. As the awareness of individuals and companies increase, we will have significant developments in this field,” she added.

Stating that awareness considering cyber risks has increased in recent years, Özek said corporate world had better awareness of the situation compared to individuals. Although cyber risks have recently begun falling into the radar of corporations, Özek told that all insurance companies had been working on cyber-risks for more than 20 years, Chubb in particular.

Özek also shared the details of Chubb’s cyber risks insurance; saying that as a company that operates in 54 countries with more than 30 thousand employees and a history of 130 years, Chubb brought its global cyber-risk expertise and specialty of 20 years to Turkey.

Underlining that Chubb’s cyber-risk insurance encompassed a wide range of coverage scope, Özek said: “Our product is also customized for the requirements of corporate customers to address the risks of their company. We are an underwriting-focused company. We assess every risk on its own and design the most fitting product for that specific risk. Chubb provides cyber risk insurance services to companies of all sizes in every market. In case of an attack, we stand by our customers and carry out the entire following process together with them.”

Adding that all sectors and markets in Turkey face the threat of cyber-attacks, Özek said: “Cyber-attacks do not only target large corporations but also small and medium sized enterprises as well. The pose a common problem for all sectors and businesses. Although mainly manufacturing and finance markets demand cyber risk insurance, demand from other markets is on the rise with the increase of awareness about this threat.”