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

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
Lessons learned from the pellet spill

Lessons learned from the pellet spill

It has been two months since pellets were spilled on Spanish coasts and, while cleaning is ongoing, the legal consequences and impact on international regulations are under debate in the sea transport industry. The recent spill of pellets has highlighted the complex...

read more
Risk underwriter: What do you know about it?

Risk underwriter: What do you know about it?

There is a professional tasked with assessing insurance risks, striving to find a delicate balance between meeting the client’s needs and ensuring the profitability of the business. This role, known as the risk underwriter, is gaining prominence in the digital...

read more
Uruguay: economic and business outlook

Uruguay: economic and business outlook

After reaching a historic foreign direct investment volume in 2022, Uruguay faced an unprecedented drought in 2023 that caused a slowdown in the first half of the year, which, despite the impact, ended with economic growth of 1.3%. Despite not being a region regularly...

read more