Responsible and Cybe(e)r safe: International Beer Day and Cyber Insurance
Today (5 August) the world celebrates International Beer Day 2022. A great opportunity to catch up with friends, colleagues and clients in restaurants, pubs, beer gardens or at festivals. This is particularly true in Munich and Bavaria, a region traditionally famous for its beer industry and, of course, the Oktoberfest. In more recent years, Munich has also become a “brewing hub” for cyber insurance. But what do the two activities have in common? A lot more than you might first think!
We believe that cyber security, resilience and preparedness are fundamental to modern economies and successful digitalization. This is why Munich Re is investing significantly and from the outset in sustainable cyber insurance offerings, related services and data, including investment in risk quantification to allow decision makers to better understand their risk profiles and adequately close possible gaps in cyber security accordingly. Should a cyber incident still occur, our business interruption coverage enables insureds to quickly get back on their feet.
As one of the global leaders in the cyber insurance industry, Munich Re seeks to drive and rise to the digital challenge – which, of course, is also faced by breweries. Because food and beverage supply in particular are critical for society and economy, we see risk-sharing with this sector as part of our responsibility.
In this digital age, it is comforting to know that there are some things which technology can never replace, like enjoying a beer or non-alcoholic beverage in pleasant company. We want breweries and the food and beverage manufacturers to be able to focus on their business while we contribute to a production process free from cyber-attack induced interruptions. It is our common goal to continuously improve cyber resilience. Enjoy responsibly and cybe(e)r safe.