Prof Martin Eling presents the findings of his recent report Ten Key Questions on Cyber Risk and Cyber Risk Insurance.
In section 2, he discusses the implications of cyber risk – what are the costs, how can we model it, and what are the main insurability challenges?
Prof Martin Eling presents the findings of his recent report Ten Key Questions on Cyber Risk and Cyber Risk Insurance.
Section 1 of the webinar features an introduction by editor of the report, Dr Fabian Sommerrock, while Prof Eling discusses the drivers for cyber risk insurance research.
The leading international think tank of the insurance industry, The Geneva Association, has published a report, Ten Key Questions on Cyber Risk and Cyber Risk Insurance.
Insurers have relied on historical data to design weather insurance contracts. In light of climate change, we examine the effects of this practice on the hedging effectiveness and profitability of insurance contracts. Using synthetic crop and weather data for today’s and future climatic conditions we derive adjusted weather insurance contracts that account for shifts in the distribution of weather and yields. In our scenario, hedging benefits from adjusted contracts almost triple and expected profits increase by about 240 per cent.