Guy Carpenter has recently launched the financial institutions and cyber components of its stochastic casualty catastrophe modeling platform, GC ForCas.
GC ForCas is a modeling platform developed to help insurance carriers understand the exposure they face with regards to “casualty catastrophe losses resulting from the accumulation of U.S. Commercial Lines insurance policies.”
According to Will Garland, U.S. Head of Specialties at Guy Carpenter, “the Cyber component of GC ForCas has been developed to examine first and third party cyber risk at the portfolio level. Besides data breach, other cyber components that the model covers include privacy liability, network security liability, business interruption and data asset protection.”