Re/insurers risk irrelevancy by ignoring cyber
Saturday, 09 15 2018, Category: Insurance and Reinsurance, Country: World
The re/insurance industry is at risk of becoming irrelevant if it avoids the challenge of tackling cyber risk, which also remains an area with huge growth potential, according to senior executives at German reinsurance giant Munich Re.
“The biggest risk of all is the strategic risk; that we do not find a solution for cyber,”. “If we shy away from this risk – if we shy away from the challenges of cyber – we risk that the insurance industry becomes irrelevant, because the cyber risk is here and will stay and will grow.”