Further innovation in risk modelling and policy standardisation can help the cyber insurance and reinsurance community unlock more support from the capital markets through catastrophe bond and insurance-linked securities (ILS) markets, the Geneva Association has explained.
A new Geneva Association report states that, “Financial innovations like cyber Cat bonds will help address the cyber protection gap.”
The report, titled Catalysing Cyber Risk Transfer to Capital Markets: Catastrophe bonds and beyond, looks at the role of alternative risk solutions in addressing what are seen as escalating cyber risks.
While cyber insurance premiums have grown, a “massive” protection gap for cyber risks still persists.
FULL ORIGINAL PUBLICATION HERE
