-
The event would represent a loss ratio impact of roughly 3%-10% on global cyber premiums of $15bn today. -
The cyber market should use the latest outage to start decisively taking action on managing cat aggregates.
-
The weighted average direct financial loss for a Fortune 500 firm was $44mn.
-
The carrier’s cyber hours clauses and sub-limits will limit exposure, according to the analyst.
-
Market sources suggest that this will be a manageable loss, although at this early stage there are multiple uncertainties.
-
The current guidance is that Beazley will publish an undiscounted CoR in the low-80s at full year.
-
Insured losses in the single-digit billions would not translate into a material impact for (re)insurers.
-
The broker warned that D&O and P&C policies could also be impacted by the outage.
-
CrowdStrike has an estimated 15%-25% market share among large companies.
-
The incident highlights the aggregation risk around cloud service reliance.
-
The modeller said 3 million homes were without power at its peak.
-
The figure is well above the historical average of $39bn for this century.
