Allianz Nigeria to enter cyber insurance market as work-at-home raises risks

By David Whitehouse
Posted on Wednesday, 17 February 2021 20:32

REUTERS/Michaela Rehle

Allianz Nigeria is planning to roll out a cyber insurance policy, since working at home raises the stakes in cyber security.

Discussions with regulators are close to reaching a conclusion and the policy is likely to be available before the end of the first half of this year, Allianz Nigeria CEO Adeolu Adewumi-Zer tells The Africa Report.

A risk barometer published by Allianz based on a survey of 193 Nigerian corporate respondents shows cyber incidents as the second-biggest perceived risk in 2021, second only to Covid-19. A year earlier, cyber incidents were only seen as the eighth-biggest risk.