Munich Re plans to increase cyber reinsurance rates

Germany-based Munich Reinsurance Co. intends to increase the cyber insurance and reinsurance prices in Germany and Europe to tackle the loss trends and the potential accumulation risks, Reinsurance News reported. Claudia Hasse, chief executive manager at Munich Re, says that the company’s combined ratio is around 85% worldwide, but it is slightly higher in Europe due to a few large single losses and the overall lower-rate level.