ILS can help cover cyber risk
Saturday, 09 22 2018, Category: Insurance and Reinsurance, Country: World
Getting the capital markets involved in the coverage of cyber risk would be helpful to cover this peril, Hannover Re CEO Ulrich Wallin said during a press conference during the Monte Carlo Rendez-Vous.
Cession rates on cyber are higher than on the traditional property/casualty classes because cyber as a peril is still in the developing stage, Wallin said. As a result, reinsurers have a relatively high penetration in the cyber segment, he noted.
Source: Intelligent Insurer