Find ways to insure new risks - or risk going out of business: Munich Re
German group sees high potential growth in insuring against natural catastrophe and growing cyber danger
Singapore
IF non-life insurers want to stay in business, they need to find a way to insure weather-related natural catastrophes arising from climate change and new risks connected with digitalisation of industries and personal life such as cyber liability risks and data breaches - which will be increasingly common in Asia in the next few years.
German-based insurance group Munich Re singled out these risks as its focus area in the region, which is also the world's fastest-growing insurance market.
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