Growth of cyber reinsurance is limited by inadequate risk assessment tools and capital limitations…
“Cyber limits have contracted, and insurers have significantly increased rates so the profitability of the portfolios is better, said Tim Gardner, New York-based global CEO of Lockton Re, a unit of Lockton Cos LLC.
‘I think reinsurers are pretty comfortable reinsuring the business, the problem is just capacity; we’re running out of capital to support the business,’ he said.”
Source: Reinsurers eye cyber potential, remain wary of expansive risks | Business Insurance