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Navigating safely with Munich Re Cyber Insurance
© [M] Munich Re [P1] monkeybusinessimages / Getty Images [P2] Tetra Images / Getty Images

Navigating safely with
Munich Re Cyber Insurance

Cyber insurance solutions for large companies and industrial clients and the public sector

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    Cyber insurance: Meet the future with confidence

    Opportunity and risks are both expanding exponentially. As our ability to digitally share more, do more, and discover more grows, so does the exposure to cyber crime. When a cyber attack – ransomware, data breach or phishing – occurs, companies must be well prepared to quickly take action.

    Munich Re is by your side. Not only do we have complete cyber insurance solutions to ensure your business is returned to normal with maximum speed and minimal cost. Our holistic approach also allows us to tailor cyber insurance policies to your company’s specific needs. 

    With Munich Re behind you, you can have the freedom to take bold steps and seize every opportunity to grow your business.

    According to the global Munich Re Cyber Survey 2021, the majority of business leaders is concerned about cyber risks, but too many are unaware of the holistic cyber insurance solutions for companies available to secure them from cyber risks and losses.

    35% are considering taking out a cyber insurance policy and will very likely do so.
    Only 34% of C-level respondents have been in contact with their insurers.
    One out of four C-level respondents was totally unaware of the opportunities that cyber insurance offer.
    17% of C-level respondents still do not have an overview of the cyber insurance products on the market.

    Accelerated digitalization – exploding number of cyber attacks

    Phishing for data
    Data breach
    Ransom payment
    Hacker infiltration
    Business interruption

    Cyber insurance for companies and industrial clients

    As the world’s leading primary-, excess- and reinsurer of cyber risks, Munich Re offers cyber covers for businesses with significant limits. Our modular cyber insurance policies range from traditional covers for data security breaches and cost coverage for ransom payments in case of cyber extortion, to business interruption covers due to physical cyber damage or any operational disruption, including forensics costs. Because all these risks hold serious loss potential for companies with complex, and therefore vulnerable, IT environments.

    Depending on your individual risk profiles, we integrate innovative cyber insurance concepts such as coverage for reputational damage, the protection for personal and material damage, and contract penalties or guarantee payments, if triggered by a cyber attack. In short, Munich Re can assume all material risks – individually customised and tailor-made to your risk transfer needs.

    Our tailored cyber insurance products and services for companies

    • Business interruption coverage, including forensic costs
    • Cyber crime and cyber extortion coverage
    • Reputational harm and media liability coverage
    • Digital asset damage and hardware replacement costs coverage
    • Technology, network security, and privacy liability coverage
    • Regulatory and PCI DSS liability coverage
    • Close cooperation with your pre- and post-incident service providers and global network of own partners
    • Breach incident management
    • Tailored cyber insurance products and services
    Tailored products and services
    © Westend61 / Getty Images

    Our unique approach to cyber insurance

    Together with our clients, we develop customised cyber insurance solutions that fit their needs, create value, and develop their specific risk-transfer approach. Here are five reasons you should consider talking to us about our cyber insurance policies for companies:

    We strive to develop relationships based on trust and mutual exchange. We match our cyber insurance policies to your risks, not the other way around. We are committed to our clients even in challenging market situations. We are a long-term partner. 

    We cooperate with renowned technology partners to further develop our cyber insurance solutions according to our customers’ needs. One example is our cooperation with Google and Allianz Global Corporate & Specialty (AGCS). Together, we offer a holistic cyber insurance specially designed for Google Cloud customers. 

    Companies face constant challenges from an ever-increasing variety of interrelated cyber risks. The pre-packaged cyber insurance solutions available today offer few options for customisation, and cyber insurance providers with limited financial capacity are unable to meet the needs of companies that are exposed to intangible cyber risks, irrespective of their business sectors and activities.

    Since the exposure depends on many different factors, each cyber risk situation needs to be assessed in a highly individual manner.

    Since we structure your personalised cover and cyber insurance policy together, with each component of the coverage representing a piece of the puzzle, we take your entire IT environment and cyber security measures into account.

    To assess your risk, we closely collaborate with your IT specialists and IT consulting companies or, if desired, involve our own proven partners. In this way, you will receive a holistic analysis of your cyber security governance and continuity rules. This means: You get the cyber insurance coverage you really need – and fast and easy processes on top.

    We focus on critical cyber attacks and scenarios that can threaten your company's ability to conduct its business.

    Our in-depth risk analysis allows you to understand the full extent of your cyber security risks and the full range of options for mitigating them. Consequently, we can find the perfect balance between your technical risk mitigation costs and cyber insurance premiums.

    We combine excellent market knowledge and a wealth of experience to competently consult your company and adapt our cyber insurance policies to your specific needs. You can rely on us – Munich Re is a leading cyber insurance provider worldwide. 

    Munich Re offers not only cyber insurance products and solutions of highest quality, but also coverage with higher capacity (up to €50m). Based on the individual quality of risk, our cyber insurance is suitable for all industries, especially Automotive, Aerospace, Pharmaceuticals, Financial Institutions, Energy, Retail, Tech and Telecommunications.
    Client centricity
    We understand our clients' pain points and offer value-enhancing cyber insurance solutions by staying embedded within markets and close to our customers.
    Thought leadership
    Our global team of experts collaborates with clients, brokers, and technology partners to shape a sustainable cyber insurance market.
    We look beyond standard products, translating well-understood exposure into customised cyber insurance for our clients.
    As a market leader, we use our financial strength and deep industry expertise to deploy significant net capacity.

    Cyber insurance for Google cloud customers: Cloud Protection +

    Risk Management in the cloud means a whole new dimension of data privacy and cyber  security challenges, including protecting resources, meeting regulatory requirements, and training staff. Companies  are encountering ever greater threats from cyber risks: Cloud  Protection  + is the comprehensive cyber insurance for both first-party and third-party losses, designed for Google Cloud customers.

    Do you want to know more?
    Contact our experts.

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    Contact our experts
    Sophia Waßner
    Sophia Waßner
    Chief Underwriting Officer F&C Cyber
    Kathrin Zeman
    Kathrin Zeman
    Head of F&C Cyber Solutions, London
    Julia Dechamps
    Julia Dechamps
    Head of F&C Cyber Solutions, Europe and Rest of the World
    Bob Parisi
    Bob Parisi
    Head of F&C Cyber Solutions, North America