German insurance company HDI Global is to offer clients a range of value-added services to raise awareness of cyber threats. The services, named Human Firewall, Organisational and Procedural Security, and Technological and Offensive Security, house risk transfer and defence-against-risks capabilities. Germany’s digital association Bitkom found that, in 2022, the German economy sustained losses of around €203 billion due to cyber attacks on companies. HDI Global says a similar level of loss is likely to go on into the future. Despite HDI Global’s prediction, it says companies frequently fail to take out adequate insurance to protect against cyber risks. Meike Röllecke, head of cyber at HDI Global, comments: “The dynamic development of cyber-risks requires a corresponding approach from companies. At HDI Global, we are working together with our clients to make them more resilient in the digital world. “The key to this is bolstering prevention on the part of the clients in a continuous risk dialog with our risk engineering experts. This enables companies to significantly reduce their cyber-risks before they become the victim of an attack.” Mukadder Erdönmez, board member at HDI Global, says: “The global cyber insurance market offers enormous potential for growth – but at the same time risks that some insurers shy away from. “We make use of the value-added services to create the platform for continuing to offer our clients cyber insurance policies. We join forces with our clients to lay the foundation for making one of the most important risks of our era more manageable for them.”
