The FT reported the launch of the “first catastrophe bond for cyber threats” by specialist Lloyd’s insurer Beazley on Monday. The bond is intended to protect Beazley if “total claims from a cyberattack on its clients exceed $300m” and so insulate its balance sheet from the impact of an improbable
Cyber threats and attacks revolutionising cybersecurity and insurance
The cybersecurity ecosystem is still dealing with the consequences of rapid digitisation, growing threat levels and a lack of skilled professionals.