PCS Global Cyber provides independent third-party industry loss estimates for cyber risk loss events and cyber catastrophe events. While the cyber (re)insurance market is currently small, the sector is poised to grow significantly.
Cyber is part of the new PCS® global specialty lines loss aggregation solution.
The PCS Global Cyber suite consists of two parts: cyber risk losses and cyber catastrophe event losses. PCS Global Cyber affirmative risk loss events involve one insured and have an insured loss threshold of at least US$20 million. Cyber catastrophe loss events have industry insured losses from a cyber cause of at least US$250 million and can include both affirmative and silent cyber.
PCS Global Cyber uses a methodology based on the one developed for PCS Global Marine and Energy, which will serve as the foundation for future specialty lines loss aggregation solutions as well.
PCS Global Terror provides independent third-party industry loss estimates for terror risk and catastrophe loss events of at least US$25 million worldwide.