cyber reinsurance

DeNexus, a specialist provider of software for cyber risk quantification for large industrial and critical infrastructure corporates, has chosen Switzerland as the home of its European operations, and hired two industry experts to establish a cyber centre of excellence in the region.

So long as deal economics are favourable and supported by a material sample of risk data, there’s an opportunity to pilot cyber insurance-linked securities (ILS) solutions, according to specialist provider of software for cyber risk quantification for large industrial and critical infrastructure corporates, DeNexus.

The increased digitalisation and interconnectedness of the world has altered the risk profile of portfolios, meaning that insurance-linked securities (ILS) funds are already holding cyber risk, they’re just not getting paid for the exposure, according to DeNexus, a specialist provider of software for cyber risk quantification for large industrial and critical infrastructure corporates.

The United States Department of Treasury’s Federal Insurance Office (FIO) is seeking industry input and feedback on how available reinsurance and retrocession support from the capital markets may be for terrorism related risks.

The majority of insurance-linked securities (ILS) fund managers responded to a survey on non-affirmative cyber risk to say that they believe they have exposure in their ILS portfolios, according to PCS.

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.

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.

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.

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.

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.