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WannaCry attack is well manageable for insurance sector - Munich Re
May 15, 2017 / 2:00 PM / in 6 months

WannaCry attack is well manageable for insurance sector - Munich Re

FRANKFURT (Reuters) - The fallout of the WannaCry “ransomware” cyber attack is manageable for the global insurance industry, German reinsurance giant Munich Re (MUVGn.DE) said on Monday.

The company logo of German reinsurer Munich Re is seen before the company's annual news conference in Munich, Germany, March 16, 2016. REUTERS/Michaela Rehle/File Photo

Munich Re, which insures against cyber risks as one of its business lines, declined to provide figures on its exposure to the latest WannaCry attack.

“Insurance can help companies cope with the consequences of such attacks and contribute to prevention through risk analysis,” Munich Re said through a spokesman in an emailed statement. “Insurance companies can make an important contribution here.”

“WannaCry is a well manageable event for the insurance industry,” Munich Re said.

Officials across the globe scrambled over the weekend to catch the culprits behind a massive ransomware worm that disrupted operations at car factories, hospitals, shops and schools.

Reporting by Tom Sims; Editing by Maria Sheahan

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