Cyber

Massive demand for cyber insurance could be an opportunity for the ILS market to expand, AIG president and CEO Brian Duperreault said at the Sifma IRLS conference in Miami.

There are some players in our industry who truly believe that any insurance risk can be securitised.

AIR Worldwide put the direct losses from the incident at between $200mn and $600mn.

The industry loss warranty will trigger based on a specified number of users in a network experiencing network failure.

ILS markets are expected to participate in the $1bn cyber pool.

The new model estimates the likelihood, severity, and insurance impact of security breach and cloud service provider downtime incidents.

Reinsurers have tipped cyber risks as an area of potential growth for the industry but noted concerns about how to manage aggregate exposures.

Tremor’s auction technology matches capacity to bidders to achieve the lowest overall rate.

Insurers with huge exposure to "silent cyber" risk present a significant opportunity to the ILS sector, according to panellists at the Trading Risk ILS conference in London held last week.