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Old 05-15-2015, 09:29 AM
Infinity Infinity is offline
Join Date: Apr 2006
Location: Minkowski spacetime
Studying for CAS 8
Favorite beer: Paulaner, Corona
Posts: 115
Default Cyber Insurance Event Definition


Anyone having a good "event" definition for cyber data breach events in US? We are struggling to settle for a good "event" definition for the reinsurance programs related to Cyber. Key dilemma is how to pin point a breach since there can be a malware attack and a hacker attack which can be correlated however we do not know for certain if they are. Again there can be different hacker groups and that one hacker group can target one insured over several months. Question is how do we ring-fence the events that the reinsurers could cover on a XOL basis rather a straight QS or Agg XL where these are not necessary however costlier.

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