Cyberrisks

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Cyber risks - Munich Re

The costs of cyberrisks

Cyberrisks

Cyberattacks can burden companies with substantial costs, for example:

  • Due to business interruption resulting from the disruption of IT operations or the necessity of conducting a forensic investigation of the causes
  • For legal counsel, attorneys and penalties or for defence against lawsuits
  • For data and system recovery, notifying the clients affected and repairing reputational damage
  • For liability vis-à-vis third parties, an aspect important particularly in the USA, where there is the risk of especially high damages claims (also via class actions).

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