First-Ever Cloud Outage Cat Bond: A Game Changer for Cyber Insurance
In a groundbreaking venture into the financial aspects of cybersecurity, Parametrix, a front-runner in cloud monitoring and insurance, and Hannover Re, a leading global reinsurer, debuted the first-ever Cumulus Re catastrophe bond. Valued at $13.75 million, this bond is specifically designed to mitigate losses due to prolonged cloud service outages. This is an increasingly critical … Read more