Historical Cyber Industry Loss Estimates and Risk-Transfer Index for Events Worldwide
JERSEY CITY, N.J., September 11, 2018 – Property Claim Services® (PCS®), a Verisk (Nasdaq:VRSK) business, is excited to announce the enhancement of PCS Global CyberTM with coverage for cyber catastrophe events. The inclusion of events with multiple insureds spanning both affirmative and silent cyber addresses industrywide insured losses of at least $250 million and is now available for existing PCS Global Cyber users.
From the inception of PCS Global Cyber in September 2017, the plan was always to add a cyber catastrophe component that addresses both affirmative and silent cyber. The service goes live with an industry loss for the 2017 Petya/NotPetya event and will add future events as they arise. This addition to PCS Global Cyber enables insurers, reinsurers, and other stakeholders in the global risk and capital supply chain to gain access to an unbiased view of broad cyber catastrophe events around the world. Additionally, they can use the index to facilitate reinsurance and alternative…
