Creation of a mutual insurance company dedicated to cyber-risk coverage

European multinationals operating in different industries are launching a mutual insurance company called "Miris Insurance". Based in Belgium, the new company will provide its members with insurance coverage against cyber risks.

During the first two years, the new insurer will allocate up to 25 million EUR (24.3 million USD) of capacity to each member.

Pending the approval of the supervisory authorities, Miris Insurance is expected to start its activities on 1 January 2023.

The member companies behind the project include BASF, Airbus, Sonepar, Adeo, Veolia Environnement, Michelin and Solvay.