Modeling a Cyber Catastrophe: Counting the Cost of a Major Email Service Provider Outage in the UK
By Marco Lo Giuidice, Ph.D. & Shalom Bublil (Kovrr)
The cyber books of many (re)insurers may be modest; however, their potential exposure to a cyber catastrophe could be very large. Even though overall cyber premiums are significantly lower than property in the UK, this report demonstrates that the potential for a multi-billion dollar insured loss is similar to the risk of flood catastrophes covered by property insurance.
This report by Kovrr, finalists in the 2018 ACORD InsurTech Innovation Challenge, is available for download to ACORD members and non-members.