The Source for Cyber Insurance News, Insights and Data
Cyber cat bonds issued over the last year are trading above par, “(a)n indication that these bonds are sought after in the secondary market and have not seen spread widening, but in fact have seen spreads tightening,” Dirk Schmelzer, Head Portfolio Manager ILS/CAT Bonds and Partner at Plenum Investments AG, told Artemis, a provider of … Read more
144a Catastrophe (“Cat”) Bonds are trade-able (re)insurance-linked securities (ILS) that “cover more remote risk and that coverage is on a named-perils basis, which provides a level of predictability.” “’While there have been a few private cyber ILS transactions in the past, the industry is still waiting for the first 144a cat bond,’ Brittany Baker, vice … Read more
Yet another dimension of the cyber threat is the impact of public and commercial enterprise cybersecurity on credit ratings. “At S&P Global Ratings, we have seen more credit-relevant cyber events in the last six months than in the previous six years, and we routinely reflect on recent cyber developments to sharpen our focus and to … Read more