Insurers appetite for cyber risk questioned in light of HSBC hack

Hacker with laptop

The bank was hit by a cyber hack this morning (29 January) causing its personal banking website and mobile application to shut down on a day that coincided with tax deadlines and payday for many customers. The "distributed denial of service attack", where a website is swamped with traffic in an attempt to bring it down, prevented retail customers from accessing online and mobile banking for a number of hours. The bank said in a statement that it had "successfully defended against the attack,