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rdf:type	schema:NewsArticle
schema:articleBody	German reinsurance giant Munich Re said Monday that it anticipates a boom in cyber-risk insurance in the wake of the coronavirus pandemic. Lockdowns and restrictions on movements to combat the spread of the virus meant that office workers have had to work more from home, with companies migrating business online. That has resulted in a "sharp rise in cyber attacks", according to Doris Hoepke, a member of Munich Re's board. The Bavaria-based company said the cyber insurance market could grow to around $20 billion (17.1 billion euros) by 2025 from a little more than $7.0 billion at present, above current forecasts for growth. "Additional, pandemic-fuelled momentum from digitalisation and companies' rising awareness of cyber risks can further boost a market already exhibiting robust growth," Hoepke added. The pandemic shifted targets for cyber attackers from individuals to major corporations, governments and critical infrastructure, according to an Interpol report published in August. The relative lack of security infrastructure of home working will mean "cyber criminals continue to ramp up their activities and develop more advanced and sophisticated modi operandi," the worldwide anti-crime organisation said. Munich Re added that insurance coverage is "likely to become more expensive" as interest rates remain at rock-bottom levels "for the foreseeable future", curtailing insurers' investment income. edf/hmn/wai
schema:headline	Home working to boost cyber-attack insurance: Munich Re
schema:mentions	Computer virus EDF Energy Cyberattack Cybercrime Interpol Insurance Pandemic Coronavirus Cyber insurance Modus operandi Reinsurance Munich Re Critical infrastructure Momentum
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-19 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	85 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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