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.
According to our Cyber Risk and Insurance Survey 2024, cyber-crime is projected to cost $14 trillion by 2028 and over 80% of global C-level respondents felt inadequately protected. Safeguarding cyber resilience is more critical than ever.
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.
Accelerated digitalization – exploding number of cyber attacks
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
Our unique approach to cyber insurance
1. You need to find a reliable cyber insurance partner you can trust over the long term.
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.
2. Your cyber risks are interrelated and you need a customised cyber insurance.
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.
3. You are striving for a fine balance between measures that tighten your IT security, and the financial impact of cyber attacks.
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.
4. You want to know which critical cyber attacks and scenarios can threaten your business most.
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.
5. You need more capacity than usually offered on the market.
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Cyber insurance for Google cloud customers: Cloud Protection +
Do you want to know more?
Contact our experts.
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/Dechamps_Julia_X11_500x500px.jpg/_jcr_content/renditions/original./Dechamps_Julia_X11_500x500px.jpg "Julia Dechamps")
/Robert-Parisi.jpg/_jcr_content/renditions/original./Robert-Parisi.jpg "Bob Parisi")
