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Allianz Sees Cyber Premiums As Fire Insurance Of 21St Century


Ron Burgundy
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Servers for data storage are seen at Advania's Thor Data Center in Hafnarfjordur, IcelandThe growing threat of hacking and a duty to protect data more stringently will accelerate demand for cyber insurance in Europe, insurer Allianz said on Wednesday, as it launched its first product aimed at Germany's small-to-medium-sized manufacturers. Cyber insurance has been slow to take off in Europe with fewer than one in 10 firms having taken out a policy, said Christopher Lohmann, head of the region Central and Eastern Europe at Allianz Global Corporate & Speciality (SGCS).




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