A recent report from the Geneva Association (GA) highlighted how maintaining the pace of growth seen across the cyber insurance market will require additional capital to manage ever-more complex cyber risks. The report explored the potential of alternative risk transfer (ART) solutions, including insurance-linked securities (ILS), such as cyber catastrophe bonds, to facilitate broader distribution of these risks to financial markets.
Discussing where ART solutions fit in with the evolution of cyber insurance, Darren Pain (pictured), director of research and head of cyber at the GA, noted that the genesis of the report predated the flurry of private cyber cat bonds issued in early 2023.
