As cyber threats grow more complex and frequent, traditional insurance markets are struggling to provide affordable, stable cover.
For many large corporates, captives are emerging as a vital solution – not just for risk transfer, but for resilience.
At the Risk-!n conference in Zurich, Charles de la Horie, CEO of MIRIS, and François Beaume, SVP risk and insurance at Sonepar, explained how their mutual insurance model is transforming cyber risk management.
MIRIS – Mutual Insurance and Reinsurance for Information Systems – is a cyber risk captive co-founded by 12 major European corporates including Sonepar, Airbus, L’Oréal and Solvay. Its mission is to bring stability to a volatile cyber insurance market and to foster collective intelligence across its members.
“We are sharing capital and sharing losses. So this makes us very collaborative and transparent,” explained de la Horie. “Our aim is not to be a competitor to the market but to be a complement, to fix some imperfections or improve in a risk or threat that is volatile.”
For members, the benefits are twofold. First, MIRIS provides a stable €30m layer of cyber capacity, smoothing out the peaks and troughs…
