Is the ILS market ready to tackle cyber?

FULL ORIGINAL PUBLICATION HERE

A lack of historical and contextual data continues to hinder the entry of the insurance-linked securities (ILS) market into the cyber re/insurance space, and with ‘silent’ cyber exposures adding further uncertainty, it might be easiest for the ILS sector to focus on affirmative cyber, at least to begin with.

This is according to Co-Head of Property Claim Services (PCS), Tom Johansmeyer, who recently spoke with Artemis about the ongoing and developing NotPetya cyber-attack and the potential for ILS to participate in the expanding cyber risk market.

With an economic impact of at least $10 billion, according to the White House, and insured losses of at least $3 billion, according to PCS, the NotPetya cyber catastrophe event remained mostly a property event for the first two years of development.

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