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Cyber ILS need to be repeatable, scalable & sensible: Johansmeyer, PCS

The increasingly sophisticated participants within the insurance-linked securities (ILS) market aren’t going to lap up just any cyber exposure that comes their way, the deals have to make sense, according to Tom Johansmeyer, Head of PCS. Cyber risk is a rapidly growing exposure which can accumulate in ways that suggests the read the full article →

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 →

No major change across cyber reinsurance amid Covid-19: Johansmeyer, PCS

Although cyber criminals tend to thrive on chaos, so far, the presence of a global pandemic hasn’t led to any significant rise in activity or threat, according to Tom Johansmeyer, Head of PCS. “Does a virus like a pandemic, an actual physical virus, make people hack or disrupt networks? Not directly. 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 →

Conan Ward & Romel Salam launch US MGA RubiQon with QOMPLX

QOMPLX, an insurtech provider of intelligent decision platforms and operator of managing general agency's (MGA), has launched US-based subsidiary MGA units named RubiQon Risk & Insurance Services and RubiQon Re, which will be led by sector veterans Conan Ward and Romel Salam. Ward and Salam both worked together at reinsurance firm 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 →