Insurance is the third most prepared industry for a cyber attack, according to KMPG’s latest global CEO survey.

More than half the industry’s CEOs believe they are well prepared, below only the infrastructure sector (67%) and life sciences (58%).

Eight other industries believe they are more vulnerable, including asset management, energy, consumer and retail, and banking.

Almost half of all CEOs say a cyber attack is a case of “when, not if”; 68% of American CEO’s believe a cyber attack will happen, while 62% of Australian respondents agree.

Overall, only 51% of bosses believe they are well prepared.

Respondents are upbeat about the effect artificial intelligence will have on their companies: 62% think it will create more jobs than it eliminates.