In this video interview with The Insurer TV, Guy Carpenter’s Erica Davis and Anthony Cordonnier, Global Co-Heads of Cyber, describe how insurers are prioritizing resilience and profitability, while innovative tools like cyber catastrophe bonds bring additional capacity to the market.
“Organizations are better prepared for these types of attacks,” Erica explained. “They’re proving to be more resilient than they were several years ago.”
Anthony discussed cyber catastrophe bonds and how they are rapidly gaining traction in the market.
“It’s been an exciting development,” he said, adding that cyber catastrophe bonds have brought a lot of additional capacity to the market.
While still seeing only a small portion of overall limits, Anthony sees potential for growth.
“It’s not unreasonable to assume the cyber market could follow the property cat market, where non-traditional capacity now accounts for 10 to 12%,” Anthony continued.
Erica Davis, Anthony Cordonnier Interview with The Insurer TV
Erica and Anthony discuss changes in the cyber market.