Attempting to tackle the growing cyber risk landscape through just insurance and reinsurance expertise will have limited results, says Munich Re’s Torsten Jeworrek, while at the same time calling on market participants to create as much transparency as possible when it comes to cyber risks.
Member of the Board of Management and Chief Executive Officer (CEO) of Reinsurance at Munich Re, Torsten Jeworrek, in a recent article, discusses the growing cyber risk landscape and the challenges presented by the increased interconnectedness of the world.
Cyber has rapidly become one of the biggest emerging exposures across the risk transfer space, providing global insurers and reinsurers with both challenges and opportunities as they look to tackle the very real, and very growing cyber threat.
Jeworrek explains that the relatively new and complex risk profiles that cyber brings, requires approaches that go “far beyond traditional insurance,” noting that while digital connectivity continues apace, it brings with it increased cyber risks.
The expanding and evolving cyber risk landscape continues to highlight the need for data security, resulting in the development of digital…
