Capiscum Re and Swiss Re have teamed up on a new cyber reinsurance solution, Decrypt, which aims to provide a single, flexible, and end-to-end solution to insurers’ cyber exposure challenges, including embedded, silent, and affirmative cyber risks.
The new solution is composed of risk identification, quantification and transfer.
It offers cyber-risk evaluation expertise and a lead line from Swiss Re of up to $50 million per client with the support of a growing pool of risk transfer capacity.
Decrypt will be brought to the market at the Monte Carlo Rendez-Vous Conference on 8 September.
Anthony Cordonnier, head of cyber product management at Swiss Re, said: “'Decrypt gives insurance companies a unique understanding of their portfolios' affirmative and silent cyber exposures, and offers protection against the aggregation of cyber losses across different lines of business.”
Ian Newman, Capsicum Re’s global head of cyber, added: “The goal has been to align the Decrypt methodology between broker and underwriter in order to provide unparalleled insights into cyber exposures across enterprise-wide insurance portfolios while being able to offer bespoke reinsurance solutions.”
