Guy Carpenter & CyberCube: research on improving cyber cat data
It is essential to develop a deep understanding of the characteristics of cyber catastrophe events and the financial impact they could have on the standalone cyber insurance market as it exists today. As the industry seeks to reduce protection gaps and drive cyber product adoption, the resulting future growth will help develop a robust market better equipped to absorb the potential for large-scale losses.
With that premise in mind, CyberCube Analytics, a ForgePoint Capital portfolio company, and Guy Carpenter, a wholly-owned subsidiary of Marsh McLennan Companies, have collaborated to help re/insurers quantify cyber risk by pooling data resources and analytics capabilities to cultivate a view of the potential US cyber industry loss from a range of different cyber catastrophe scenarios.
The study highlights five key considerations for re/insurers and other stakeholders to help protect profitability and examine capital adequacy of the existing US cyber standalone insurance industry.
