Insurance Loss Warranty contract/ILW

Cyber Cat Bonds Hold Up in Secondary Market; More Expected

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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

Fears of Massive Cyber War Losses are Overblown: Catastrophic Risk Expert

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We’ve reported extensively on the insurance industry’s fear of “cyber war;” debate over exclusions for state-backed, systemic cyber attacks; moves by governments to backstop the cyber insurance industry for massive attacks; and the challenges of current modeling of risk accumulation and catastrophic cyber events. Now comes a contrarian view from a leading cyber risk risk … Read more

New Cyber Loss Index Tracks Systemic Incidents Impacting the Cyber Insurance Industry

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The Index has been established by PERILS, the Swiss-based provider of catastrophe insurance data, and CyberAcuView, an organization set up by cyber insurers. The Index will include primary losses from systemic cyber incidents affecting more than one insurer and one policyholder. It will report events exceeding $500 million in industry losses within six months after … Read more

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