Market Trends of Finland Cyber (Liability) Insurance Industry
This section covers the major market trends shaping the Finland Cyber (Liability) Insurance Market according to our research experts:
Finland Offers Expertise in Cybersecurity Software, Hardware, Digital Services and Partnerships
Finland is a safe, secure, and transparent society. It is one of the global leaders in cybersecurity. It is one of the leading countries in data privacy and threat prevention solutions and identity management. It is known for many fundamental cybersecurity technologies essential to cyber and information security.
Finland's strong tech expertise, high education level and vibrant startup scene contribute to an attitude of innovation, putting us at the forefront of digitalization, communication technologies and smart & clean technologies. The Finnish cybersecurity scene is outlined by the National Cybersecurity Strategy. Customers of Finnish cybersecurity companies cover business verticals, ranging from the energy sector and heavy manufacturing industry to the telecom sector and municipal infrastructure. Solutions reach from software and hardware products to digital services and partnerships. Cybersecurity also provides a central supporting role in public and private healthcare and governmental bodies. Research and comprehensive education foster methods and technology to tackle security challenges in organizations.
Finnish cybersecurity innovations are rooted in the strong company ecosystem and ICT-oriented society. Some of the top technology companies in Finland that offers cybersecurity solutions are F-Secure, Cyberwatch, Flashtech, Solita, Granite GRC, Cybersec etc.
Finland’s Cyber Security Strategy
Finland's national cybersecurity strategy aims to respond to cyber threats, strengthen the overall security of society and ensure the smooth functioning of the cyber domain in all circumstances. The Strategy presents ten objectives that, when implemented, provide Finland with the capability nationally to control the intentional and unintentional adverse effects of the cyber domain as well as to respond to and recover from them. One of the objectives is that Finland shall strengthen its national cybersecurity by participating actively and effectively in international discussions and cooperation on cybersecurity. The Foreign Ministry coordinates this international activity. The Security Committee monitors the implementation of Finland's Cyber Security Strategy.
The strategy also aims to support the development of accessible and reliable digital services and business development. To solve international cybersecurity challenges, Finland plays an active role in the European Union and key international organisations (UN, OECD, OSCE, Council of Europe, the framework of NATO partnership programmes).
In 2020, roughly 12 thousand information security violations and threat notifications were processed by the National Cyber Security Centre in Finland. This was a major increase of over 100 percent from the previous year, when roughly 4.5 thousand cases were handled. Most notifications processed by the national authorities during 2020 concerned online scams (4,912) and phishing (3,771). Other common types of information security violations and threats included spam, malware, and data breaches.
