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Gallagher Re adds Norris from Aon Securities as dedicated cyber ILS broker

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. Norris most recently worked at Aon Securities, the capital markets unit of the insurance and reinsurance broker. At read the full article →

Re/insurers to partner with governments & capital markets on cyber risk: S&P

Given the enormous economic loss potential associated with cyber risks, rating agency Standard & Poor's feels it inevitable that insurance and reinsurance firms will look to both the government and capital markets to help in boosting available cyber risk capacity. In a new report on the reinsurance market's approach to cyber read the full article →

Singapore launches cyber risk pool, to be backed by ILS & reinsurance

The Finance Minister of Singapore has announced the launch of the world’s first commercial cyber risk pool, a facility for providing cyber insurance to corporate buyers in the Asia region that is expected to be backed by both insurance-linked securities (ILS) and reinsurance. Singapore has been pushing innovation in its insurance read the full article →

Silent cyber has potential to cause ILS fund losses, scenario shows

A cyber attack scenario where hackers targeted a U.S. hydroelectric dam causing significant property damage through flooding, could clearly result in losses flowing through to the insurance-linked securities (ILS) market thanks to so-called silent cyber exposure. Insurance and reinsurance broking specialist Aon worked with Guidewire Software's Cyence Risk Analytics team to read the full article →