Writing Cyber Is Key to Survival, Munich Re Exec Says

Trumpeting a message that he conceded might be different from peers, Stefan Golling, a member of Munich Re Board of Management, said that Munich Re remains bullish on the cyber insurance and reinsurance markets. In fact, "if insurers and reinsurers shy away from the cyber market, they will not survive," said Golling, Munich Re board member for Global Clients/North America, during a presentation the European reinsurer's virtual Rendez-Vous presentation. He noted media reports of a hardening cyber insurance market, reduced available capacity and narrower carrier and reinsurer appetites for cyber risk. Those shouldn't scare insurers and reinsurers away, Golling said. "If we want to remain relevant in this industry, relevant for our clients, then we need to find solutions for cyber. And we will," he said.