This will be one to watch. The game begins as Beazley launches a $45million catastrophe bond for cyber threats, while the CEO of Zurich says that

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This will be one to watch. The game begins as Beazley launches a $45million catastrophe bond for cyber threats, while the CEO of Zurich says that cyber is an uninsurable risk. I’ve commented previously that the use of ILS’s for cyber today is risky. But the value of the bond is small and cyber regulation and exclusions will go some way to helping cyber insurers manage their exposure to cyber risk. However the insured has found it difficult to transfer the risk to their balance sheets, insurers have found it difficult to effectively insure the risk and the market is now looking to pass the risk the securities markets.

It may also be an indication that the reinsurance market is under strain and unable to cover cyber without additional capital from the securities market.

we’ve not yet seen the impact of cybersecurity and cloud.

Ted Dziekanowski Gerry Kennedy

#cyberinsurance #cyberriskmanagement #cybersecurity #theaugustagroup

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