an issue of economic sovereignty for France

The news speaks in favor of cybersecurity. Recently, the agricultural equipment manufacturer AGCO, victim of ransomware, had to shut down its factories. Distributor of several brands of agricultural equipment, the attack perpetrated on May 5 paralyzed the French sites of Beauvais, in the Oise. This case is absolutely not isolated because Hisco recently estimated that the number of companies targeted by a cyberattack in France increased from 34% to 49% between 2019 and 2020. Similarly, according to IBM, the cost of cyberattacks has increased by 12% for businesses over the past five years. It is time to put an end to the vulnerability of which our economy is a victim.

For this, the public authorities should not stop at the stages of observations or intentions. A law must be considered regarding these ransom demands, as well as a framework for cyber insurance. Indeed, the significant increase in claims and the lack of structuring of the French market place us far behind England, whose model is the most successful, if not the most efficient. As proof, our country has to catch up with only 130 million euros in contributions for cyber coverage; a very low level on a European scale. However, it is not a question of creating regulatory shackles as we can see in other financial professions nor of contravening the free European competition of the offer. We must rather imagine a responsible approach that will make it possible to build a fair circuit for insurance companies, brokers and businesses alike.


Leave a Comment