Munich Re Syndicate at Lloyd’s said on Aug. 21 that it has introduced an insurance solution to cover cyber exposure for the independent oil and gas sector. Munich Re Syndicate, Cyber exposure, Oil sector, Gas sector, Dominick Hoare, London, Europe
Munich Re Syndicate in Lloyd 's of London has provided cyber insurance cover for the independent oil and gas sector . The product includes coverage of traditional data breaches , as well as any physical loss or expense that results from a cyber attack . Munich coverage will support insurance companies ' contingency measures as increased automation and manipulation of data in the sector 's databases expose new risks , said Dominick Hoare , chief operating officer at Munich Re Syndicate in London .