Inicio > Risks Management and Insurance Magazine > News > MAPFRE GLOBAL RISKS enters the cyber risks insurance market

RIESGOS-CIBERNETICOS

MAPFRE GLOBAL RISKS enters the cyber risks insurance market

admin | 19/05/2016

In an interview with the Expansion newspaper, Alfredo Castelo, CEO of MAPFRE GLOBAL RISKS, highlighted the important increase in demand for this type of product worldwide.

In an interview with the Expansion newspaper, Alfredo Castelo, CEO of MAPFRE GLOBAL RISKS, highlighted the important increase in demand for this type of product worldwide.

In an interview with the financial newspaper, Expansión, Alfredo Castelo analyzed in depth the entry of the company into the cyber risks market, which is one the most innovative classes of business in the sector as a consequence of the proliferation of technological crime.

With this product, that provides property damage and liability cover for companies worldwide, MAPFRE joins the large group of multinational insurers that offer this service. The development of the innovative product was undertaken in the Global Risks Innovation and Development Office, led by Fernando Martín.

“Cyber risks insurance will have an important development worldwide. It is estimated to reach 2,500 million US$, of which 2,000 million US$ will be based in the United States”, says Alfredo Castelo.

This launch is part of MAPFRE GLOBAL RISKS strategic development plan for Europe, which includes all insurances segments. According to Castelo, “our objective is to be able to lead those programmes for multinational groups in which we currently participate as coinsurers together with other leading insurers”.

donwload pdf
Large cities, major risks: Quebec

Large cities, major risks: Quebec

A Canadian emblematic city, Quebec is considered the cradle of Francophone civilization in America. Surrounded by mountains, rivers, and lakes, it stands out for its high quality of life and ranks among the safest towns in the country. However, it also faces natural...

read more
Fragmented Geoeconomics: A New Global Risks Map

Fragmented Geoeconomics: A New Global Risks Map

The global landscape is more volatile than ever. New models of opposing economic blocs are creating barriers that hamper market activity. Supply chains are facing major stability challenges and companies are being forced to redefine their global strategies. We’ve...

read more
Biotechnology: Prevention Tool or Driver of Uncertainty?

Biotechnology: Prevention Tool or Driver of Uncertainty?

Biotechnology holds great promise in tackling pressing global challenges such as climate change, food security, and public health crises. Yet, this vast potential comes with significant risks, from the possibility of misuse to unforeseen environmental consequences....

read more