cyber risk

The insurance and reinsurance industry is currently treating artificial intelligence (AI) as a potential “force-multiplier” for cyber losses, but the pace of development of AI and its roll-out is reshaping cyber risk in general and introduces portfolio aggregation and loss correlation risks, specialist modeller CyberCube has explained.

Parametrix is delighted to see expanded support from investors across the market to cover the tail risk of cloud outage events through Hannover Re’s successful renewal of its landmark parametric catastrophe bond, Cumulus Re (Series 2026-1), Sharon Haran, Managing Director of Parametrix Analytics, has said.

Hannover Re has sponsored a second successful renewal of its landmark parametric cloud outage catastrophe bond, this time securing $35 million in retrocessional cyber reinsurance protection covering cloud outage events with a Cumulus Re (Series 2026-1) issuance, Artemis can report.

CyberCube, a specialist modelling firm for cyber risks and the third-party modelling agent for many of the cyber catastrophe bonds that have been issued so far, has announced a new CEO, with its Chief Growth Officer Chris Methven taking on the top role, as Pascal Millaire becomes a Senior Adviser to the company.

Beazley, the London headquartered specialty insurance and reinsurance company, have successfully priced the PoleStar Re Ltd. (Series 2026-1) issuance to become the biggest cyber catastrophe bond so far, as the new deal will now provide the company $300 million of reinsurance protection, Artemis has learned.

Parametrix, a specialist in parametric cloud downtime cyber risk transfer, has confirmed that it has already paid claims to clients that were impacted by the Amazon Web Services (AWS) outage on October 20, 2025.

Beazley, the London headquartered specialty insurance and reinsurance company, is aiming to upsize on the amount of reinsurance its latest 144A cyber catastrophe bond provides it, with the PoleStar Re Ltd. (Series 2026-1) issuance now targeted at $280 million, Artemis understands from sources.

Beazley, the London headquartered specialty insurance and reinsurance company, is back in the 144A catastrophe bond market to sponsor a new cyber cat bond deal, seeking $200 million or more in excess-of-loss protection from a PoleStar Re Ltd. (Series 2026-1) issuance.

This week’s Amazon Web Services (AWS) outage may have cost billions in lost opportunity and downtime for technology and internet services around the world and could trigger some cyber insurance policies, but it was not significant enough to be considered a Catastrophic Event, Parametrix has told us.

CyberCube, a specialist modelling firm for cyber risks and exposures that has also been the third-party modelling agent for a number of the cyber catastrophe bonds that have been issued so far, has announced a significant more than $180 million investment in the company to support its long-term growth ambitions.