Google’s tie-up with AGCS/Munich Re is a big step forward for the cyber market, but there are risks
When it comes to cyber risk, some underwriters think of it just like property cat. They conceptualize it as a low-frequency, high-severity class of business, where carriers can expect good margins to compensate for volatility.
We even have the term cyber hurricane, used to denote systemic cyber attacks with the potential to cause massive losses across the entire market by knocking a power grid or other utility offline.
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