Reinsurance News

VIG establishes EU-funded cyber security programme to combat rising threats

7th June 2024 - Author: Beth Musselwhite -

Share

Vienna Insurance Group (VIG) has launched a comprehensive Cyber Defence Center programme (CDC) to enhance protection against the growing threat of cyberattacks.

vienna-insurance-group-logoThis initiative receives financial support from the European Union through the European Cybersecurity Competence Centre.

The risk of cyber-attacks on companies continues to rise, particularly with new threats driven by artificial intelligence, such as deep fakes.

According to the World Economic Forum’s “Global Risk Report 2024,” misinformation and disinformation through AI is considered the greatest risk for the next two years, with cyber insecurity ranking fourth among the top ten risks.

Protecting customer data and securing IT systems is a top priority for VIG. To meet the latest security requirements, the company has implemented extensive security measures.

Gerhard Lahner, Chief Operating Officer on the Managing Board of VIG, states, “The methods and attempts of external attacks are constantly changing. We have therefore established a Group-wide Cyber Defence Centre programme to protect our business and our Group customers from the risk of cyber-attacks and to further increase VIG’s security level. We are very pleased that the EU recognises our activities and supports the programme.”

The CDC programme is supported by a team of information security experts who detect, analyse, and prevent cyber threats using semi-automated processes and advanced technology. VIG’s IT systems are continuously monitored for any signs of cyber incidents.

VIG has established three competence centres in Austria, Poland, and the Czech Republic, which now provide services to the Group companies. These centres will strengthen the Group’s ability to recognize and prevent security incidents and increase resilience by implementing new security solutions.