Cyber risks are seen as an area of opportunity and expansion for the insurance-linked securities (ILS) marketplace.
As demand for cyber insurance and cyber reinsurance grow, while there has been a general lack of cyber retrocession capacity, many are looking to the capital markets and ILS to fill the gaps.
The ILS market regularly discusses the potential for cyber ILS and cyber catastrophe bonds, while a number of companies have been exploring ceding more cyber insurance risk to the capital markets, using insurance-linked securities (ILS).
Cyber risk is often touted as a potential area of participation for the insurance-linked securities (ILS) space, but owing to its nature, it might be wise to adopt a more bespoke approach to begin with, according to Brittany Baker, Director of Technical Sales at CyberCube.
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As conversations around cybersecurity and risk management increasingly occur at the board level, insurance-linked securities (ILS) investors and reinsurers should be excited, but must tread quickly and wisely, according to Thomas Nuth, Vice President of Marketing at DeNexus.
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The cyber-attack threat is elevated this year and as the need for risk transfer grows, the re/insurance and insurance-linked securities (ILS) market would benefit from considering ways to formalise what losses are included under cyber ILS deals, according to Tom Johansmeyer, Head of PCS.
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Cyber risk modelling and data analytics will help to build a better understanding of cyber exposures across the insurance and reinsurance industry, which in time will bridge the gap to the ILS investor base on cyber risk, according to CyberCube’s Brittany Baker.
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New data provides clear support for why the insurance-linked securities (ILS) market has always been so interested in cyber risks as an avenue of market expansion, as reinsurance broker Gallagher Re predicts cyber reinsurance premiums will overtake property catastrophe reinsurance before 2040.
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In the second in a series of sponsor showcase video interviews for the upcoming Artemis ILS NYC 2022 conference (held April 22nd in New York City), we welcomed Thomas Nuth, the Vice President of Marketing at DeNexus, one of our Bronze sponsors for the conference.
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Specialist insurance-linked securities (ILS) investment manager Fermat Capital Management, said today that it has licensed CyberCube’s Portfolio Manager technology to help it gain a better understanding of cyber accumulation risks.
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The value-proposition of risk transfer through reinsurance remains strong, according to broking giant Aon, who said recently that while reinsurance capital levels remain adequate across most of the market, there are some opportunities for new capital to enter and existing players to expand.
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Michael Millette, Managing Partner at insurance-linked securities (ILS), reinsurance and transportation investment manager Hudson Structured Capital Management Ltd., has explained that without credible modelling, a cyber ILS market is unlikely to develop as capital won’t want to support the risk unless it has a better understanding of it.
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Reinsurance broker Gallagher Re has announced the hire of a dedicated cyber insurance-linked securities (ILS) resource, adding Theo Norris from Aon Securities as a resource to help bring new capacity to the cyber market.
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