Group News

Cyber attacks present a challenge for industrial enterprises and insurance managers

Within the space of just a few years cyber attacks have evolved into a serious risk for industrial enterprises. Against the backdrop of rapid digitalisation and networking in the business world, the risk of falling victim to cyber crime is ever-present nowadays. The dangers include production outages, data theft and loss of know-how. Consequently, a steadily growing number of companies are giving consideration to these risks, including in their risk management activities.

With this in mind, the London-based trade newspaper "Commercial Risk Europe" devoted its "Risk Frontier Survey 2017" entirely to the issue of cyber risks and cyber insurance. HDI Global SE, the industrial lines insurer within the Talanx Group, is a sponsor of this report. Adrian Ladbury, the newspaper's senior editor, conducted interviews for the survey with several key figures on HDI's team, including Dr Stefan Sigulla, the member of the Executive Board responsible for Liability business, Patrick Smolka, Head of Financial Lines, as well as underwriters and cyber specialists at HDI branches in the Netherlands, Denmark, France, Spain and the United Kingdom. These interviews explore how risks in the cyber world can be mitigated and discuss the added value that insurance solutions can deliver.