36% of Singapore Firms Eye Cyber Policies

Global Insurance Desk: Cyber insurance is rising up the priority list for Singapore organisations as artificial intelligence opens the door to fresh cyber risks, according to ESET’s Enterprise Cyber-security Report 2026.

The survey of 400 cyber-security decision-makers, carried out by Blackbox Research in the second quarter of this year, found that 36% of firms plan to take out cyber cover within the next 12 months.

Almost all respondents, or 97%, said they face difficulties in securing or keeping coverage. Stricter security requirements were named by 43% as a major obstacle.

At the same time, 79% of organisations reported at least one AI-related cyber threat over the past year. Nearly every company surveyed, 97%, is already using or testing AI in areas such as customer service, document processing, business analytics, software development, risk management and threat detection.

AI-generated phishing and impersonation attacks topped the list of threats, hitting 46% of organisations. Attacks that exploit AI-powered tools, including prompt injection, affected 41%, while deepfake or voice-cloning incidents reached 39%.

The problem proved especially acute in financial services, where 62% reported AI-generated phishing, and in technology firms at 55%.

Despite the heavy adoption of AI, only 49% of organisations have systems in place to monitor access to AI tools and the outputs they produce.

Parvinder Walia, president of ESET’s APAC region, stressed the need for clearer oversight.

“Cyber-security is now essential to keeping businesses running,” he said. “As AI and connected technologies grow, organisations need to understand where their risks are, react quickly when something goes wrong, and adopt new technology with confidence.”