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Kessler said the sector needs to coordinate and also to partner with authorities “to build databases and a taxonomy to share information,” or a common vocabulary for policymakers and companies to use in assessing cyber-related impact on the financial or industrial sector. (Photo: Shutterstock) Kessler said the sector needs to coordinate and also to partner with authorities “to build databases and a taxonomy to share information,” or a common vocabulary for policymakers and companies to use in assessing cyber-related impact on the financial or industrial sector. (Photo: Shutterstock)

(Bloomberg) — Cyber risks will soon become bigger risks than natural catastrophes for the insurance sector, Scor Chairman and CEO Denis Kessler said, recommending the industry build a comprehensive, common global scale to assess cyber-related incidents.

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