Managing Cyber Insurance Accumulation Risk
February 11 2016
Cyber-related insurance, while currently modest, has the potential to be a fundamental driver of growth for the global re/insurance industry. And while an opportunity, the digital transformation also poses challenges; as businesses and stakeholders throughout society increasingly make mitigating cyber threats a top priority, the industry needs to adapt to remain relevant. An engaged and vital cyber insurance market will not only be good for the industry but will also ensure a more resilient economy.
There are many challenges to overcome to realise this vision. One key challenge is accumulation. To allocate the capital needed to provide the necessary coverages, and do so in scale, the industry needs to understand the correlation space for this new class of exposure.
This report describes a framework to analyse cyber loss processes, develop scenarios and modelling parameters, and define exposures. This initiative is an important first step in the long-term pursuit of a research and development programme to provide the industry with the models and tools to better quantify, grow and manage this important risk.
-
AIG’s McMurdo to join Steadfast MGA as CUO personal lines
- August 20
The move comes as the broking group's MGA division acquires AIG's HNW home and contents portfolio.
-
QBE’s Hammond on transformation and growth
- July 2
The Asia chief executive discusses Covid-19, going digital and restructuring.
-
Swiss Re: Nat cats and man-made disasters in 2018
- April 10
Climate change, increased urbanisation and a growing concentration of assets were on the risk agenda for 2018.
-
Willis Towers Watson: 2019 Asia Market Report
- March 19
Economic uncertainty, more complex risks and tighter underwriting are all influencing Asia's markets.
-
WTW | A new way forward: Cutting through Asia’s coal conundrum
With power demand soaring and coal placements declining, fossil fuel plants and insurers must work in tandem to accelerate decarbonisation and ensure the region’s resilience.
-
Marsh | Closing the nat cat protection gap with effective physical climate risk mitigation
Climate modelling and risk engineering expertise can help with risk mitigation and insurance affordability.
-
Zurich | Designing result-driven embedded insurance propositions
Embedded insurance is more than just a tick in the box, it calls for a hands-on approach involving thoughtful consideration of customer value.
-
Peak Re | Unlock the potential of South-East Asia insurance markets
Multiple positive growth drivers underpin optimism about the insurance outlook of the region.
