The revision of the FINMA Operational Risk Circular 2008/21 will bindingly and explicitly include Cyber Risk in the IT operational risks for banks. Beyond the regulatory requirements for banks, which position shall be adopted when facing Cyber Risks?
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The risk of being the victim of a cyber attack has risen sharply in recent years. Against the damage caused by such attacks, firms can protect themselves with so-called cyber insurance. What services do Cyber Insurances offer, who can assure and what should firms know before completing a policy?