Reinsurance brokerage, risk and capital strategic advisory firm TigerRisk Partners LLC has announced that it plans to adopt catastrophe risk modeller AIR Worldwide’s cyber risk analytics platform, ARC.
TigerRisk intends to grow its cyber risk reinsurance offering using the platform, which is designed to inform risk selection, pricing, portfolio management and risk transfer.
ARC enables users to quantify the potential financial impact from either security breach or cloud service provider downtime, and is calibrated with public, commercial and insurance claims data from more than 77,000 cyber incidents and the cyber security profiles of more than 100,000 organisations.
“Cyber is not only the fastest growing risk for many of our clients, it is also one of the most challenging to understand,” said Nathan Schwartz, Head of Analytics at TigerRisk. “AIR’s new probabilistic cyber model will help us analyze our clients’ cyber exposure and provide valuable insights on how to protect their portfolios.”
“AIR’s unmatched combination of a detailed cyber risk model for security breach, service provider downtime, and other causes of loss, plus a rich cyber industry exposure…
