Some days, it feels as though the reinsurance industry still lives on the fringes of cyber. Risk is moving around, but I still get the impression that we’re seeingonly the earliest stages of this market. And from what I’ve heard, I’m not alone in this. Bermuda, in particular, has yet to realise its true potential in cyber risk transfer.
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15 March 2018 Specialist insurer Hiscox has launched a first ever cyber industry loss warranty (ILW) product to help address the uncertainty around cyber tail risk for re/insurers.