Catastrophe risk modeling firm AIR Worldwide announced it has developed a probabilistic model for cyber risk, which is capable of accounting for security breach and cloud service provider downtime incidents for insurance portfolios worldwide. AIR’s probabilistic cyber model estimates the …
Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with reinsurance broker Capsicum Re to enhance the insurance industry’s modeling of what many refer to as “silent” cyber incidents. As part of the collaboration, the two firms will identify …
The total commercial cyber liability market will reach $6.2 billion in written premium by 2020 after annual growth rates of 20-30 percent, Verisk predicts in a market analysis. “Cyber liability risk is rapidly permeating every business that has any dependence …
