{"id":93072,"date":"2020-10-19T20:38:06","date_gmt":"2020-10-19T17:38:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/home-working-to-boost-cyber-attack-insurance-munich-re\/"},"modified":"2020-10-19T20:38:06","modified_gmt":"2020-10-19T17:38:06","slug":"home-working-to-boost-cyber-attack-insurance-munich-re","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/home-working-to-boost-cyber-attack-insurance-munich-re\/","title":{"rendered":"#Home working to boost cyber-attack insurance: Munich Re"},"content":{"rendered":"

“#Home working to boost cyber-attack insurance: Munich Re<\/strong>”<\/p>\n

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German reinsurance giant Munich Re said Monday that it anticipates a boom in cyber-risk insurance in the wake of the coronavirus pandemic.<\/p>\n

Lockdowns and restrictions on movements to combat the spread of the virus meant that office workers have had to work more from home, with companies migrating business online.<\/p>\n

That has resulted in a “sharp rise in cyber attacks”, according to Doris Hoepke, a member of Munich Re’s board.<\/p>\n

The Bavaria-based company said the cyber insurance market could grow to around $20 billion (17.1 billion euros) by 2025 from a little more than $7.0 billion at present, above current forecasts for growth.<\/p>\n

“Additional, pandemic-fuelled momentum from digitalisation and companies’ rising awareness of cyber risks can further boost a market already exhibiting robust growth,” Hoepke added.<\/p>\n

The pandemic shifted targets for cyber attackers from individuals to major corporations, governments and critical infrastructure, according to an Interpol report published in August. <\/p>\n

The relative lack of security infrastructure of home working will mean “cyber criminals continue to ramp up their activities and develop more advanced and sophisticated modi operandi,” the worldwide anti-crime organisation said. <\/p>\n

Munich Re added that insurance coverage is “likely to become more expensive” as interest rates remain at rock-bottom levels “for the foreseeable future”, curtailing insurers’ investment income.\n <\/p>\n\n

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Cyber insurance market to double by 2020, says Munich Re<\/a>\n <\/div>\n

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\n \u00a9 2020 AFP<\/p>\n

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Citation<\/strong>:
\n Home working to boost cyber-attack insurance: Munich Re (2020, October 19)
\n retrieved 19 October 2020
\n from https:\/\/techxplore.com\/news<\/a>\/2020-10-home-boost-cyber-attack-munich.html<\/p>\n

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