Europe’s biggest insurer Allianz is expecting to cash in on growing corporate demand for insurance against computer hacking and internet breakdowns, it said on Wednesday.
“We see cyber insurance as a big growth market,” said Hartmut Mai, board member at Allianz’s AGCS unit for global corporate and special insurance risks.
Insuring against cyber threats is seen as a potentially lucrative market for Europe’s insurers, particularly now that lawmakers are promising bigger fines for companies that lose data.
“If my production lines are silent because my cloud (computing) provider cannot make the data I have stored there available, then that could threaten the company’s existence,” Mai told a press briefing.
SOURCE: reuters.com
Most Commented Posts
2020 Cybersecurity Landscape: 100+ Experts’ Predictions
Cyber Security Predictions 2021: Experts’ Responses
Experts’ Responses: Cyber Security Predictions 2023
Data Privacy Protection Day (Thursday 28th) – Experts Comments
Experts Insight On US Pipeline Shut After Cyberattack
Most Active Commenters
Recent Comments
“Cybersecurity Awareness Month’s new evergreen theme "Secure Our World” is…
“Avoid storing data on personal devices: A crucial but often overlooked…
“I recommend a new nuance to passwords that isn’t often…
“In my role overseeing cloud environments and incident response, I'm…
“Cybersecurity Awareness Month serves as a reminder to confront the…