A new report from Long Finance, Promoting U.K. Cyber Prosperity: Public Private Cyber Catastrophe Reinsurance, has found that risk management and shared learning should be grown and implemented through a public/private catastrophe reinsurance scheme to help address increased cyber threats.
The report decided on the need for a public/private reinsurance scheme after “analyzing the nature and evidence of cyber risks, with a focus on cyber catastrophe event…This would support U.K. cyber prosperity, add clarity and certainty in the insurance market, and encourage take-up by businesses.”
Canadian Underwriter has more on the report as well as some of its key recommendations.