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PCS launches Cyber RLM, a data tool for large insured cyber risks

PCS, the provider of industry loss estimates and loss data globally, has launched its first non-loss reporting platform, Cyber RLM, which will provide users with unique insights into large insured cyber risks around the globe. Containing data on many of the largest insured cyber exposures and programs, PCS Cyber RLM is read the full article →

Cyber accumulation is COVID on steroids. Private capital needed: Benchimol

The way we think about accumulations of cyber risk is a bit like COVID on steroids and the potential size of economic losses from major cyber loss events means private capital is needed to support the risk but that a public-private approach is required, AXIS Capital CEO Albert Benchimol has read the full article →

Parametric cyber business interruption cover launched at Lloyd’s

A new cyber business interruption insurance solution using parametric triggers related to outages has been launched at Lloyd's with backing from Tokio Marine Kiln (TMK) and other members of Lloyd’s Product Innovation Facility including reinsurance firm RenaissanceRe. The parametric risk transfer product is designed to provide business interruption coverage to small read the full article →

Brokers report rising demand for cyber reinsurance: PartnerRe survey

Brokers are reporting increasing demand for cyber reinsurance in 2020, across the range of structures available in the market, the latest annual cyber insurance market survey from PartnerRe shows. Bermuda headquartered reinsurance firm PartnerRe has surveyed the cyber insurance market in partnership with Advisen, speaking to 260 cyber insurance brokers and read the full article →

ILS / ILW retro needed for non-affirmative cyber: Johansmeyer, PCS

As re/insurers struggle to find ways to manage their non-affirmative cyber exposures, there’s an opportunity for the insurance-linked securities (ILS) community to support an ILW-based retro market to address the issue, says Tom Johansmeyer, Head of PCS. Non-affirmative cyber risk losses occur when a policy pays out on a cyber cause read the full article →

Cyber modeller Kovrr adds John Butler of Cohen & Co. to advisory board

Cyber risk modelling company Kovrr has added new insurance, reinsurance and insurance-linked securities (ILS) expertise to its advisory board with the addition of John Butler, Head of Cohen & Company’s U.S. Insurance Asset Management Platform and Global ILS Program. Butler has worked in the reinsurance and insurance-linked securities (ILS) space during read the full article →

Why cyber re/insurance needs ILS – Q&A with Tom Johansmeyer, PCS

There is constant chatter about cyber insurance and reinsurance as a meaningful future component peril of the insurance-linked securities (ILS) asset class, but so far little transactional flow has been seen. We spoke with Tom Johansmeyer, Head of PCS, to get his view on the current status of cyber ILS. Q: read the full article →

Parametric cloud outage cyber risk transfer deal backed by Hiscox

Hiscox, the specialist insurance or reinsurance underwriter and ILS capital manager, has provided the capacity to support another novel parametric cyber risk transfer arrangement, this time covering the risk of cloud outages. Last month we reported that Hiscox was the capacity provider backing a parametric cyber risk transfer transaction that helped read the full article →

Asset manager was buyer of recent parametric cyber risk transfer deal

More information has been revealed on a recent innovative parametric cyber risk transfer transaction, which it turns out was for an asset manager to hedge potential cyber attack related disruption to U.S. power generation assets. This parametric cyber risk transfer transaction first came to light in early January, when it was read the full article →

Hiscox backs PCS trigger parametric cyber risk transfer on AkinovA

Specialist insurance, reinsurance and ILS capital manager Hiscox has provided the capital to back a novel parametric cyber risk transfer arrangement that is based on a trigger from PCS and was transacted on the technology platform created by AkinovA. It's the first transaction from the AkinovA electronic trading platform or marketplace read the full article →