Cyber risk covered along the entire value chain
Cyber attacks can cripple businesses, undermine national security, threaten personal data privacy and even sabotage democratic institutions. Recent attacks provide ample evidence of of the risks involved. Statistics put the costs incurred through cybercrime at USD 600 billion worldwide. In this context, insurance should be one of the central planks in companies' and governments' risk management procedures and capabilities.
Swiss Re has developed a comprehensive and customisable cyber product suite. This is a product development toolkit for clients. Addressing key steps across the entire value chain, it includes policy wording, risk assessment approach, costing methodology, third-party service provider selection and claims handling best practices. We help clients confidently expand their business in the rapidly growing cyber insurance market by, among other things, jointly developing cyber insurance products with them, supporting with Swiss Re's global cyber expert network and working with them to better understand complex cyber risks