As the insurance sector grapples with a rise in climate change-induced weather events, IAG chief executive and managing director Nick Hawkins points out that the sector cannot forget the emerging risk of cyberattacks.

“Of course, a strong insurance sector will also be one that performs well and delivers good customer outcomes in the face of more frequent catastrophic weather events, as well as other insidious risks on the rise like cybercrime,” he told the recent Financial Review Insurance Forum.