EXOS Cyber Risk Team is Expanding

The demand for risk transfer throughout the cyber reinsurance industry is escalating hurriedly, making it the fastest-growing insurance class in history. According to analysts, the global cyber industry will amplify to around $22 billion during the following four years. At the end of the day, that is not surprising because everything hinges more on digital data and business models to model risk as we become more immersed in the digital world, whether it be online businesses, physical assets, or machines.

The United States continues to be seen as the most significant cyber market, despite the executives' acknowledgement that other markets including Europe and Asia are progressing due to prices rising as a result of a lack of coverage to match the rising demand.

Because it's our responsibility as a specialized reinsurance broker to persistently invest money to sustain the underlying market and satisfy the escalating demands of our clients. Our EXOS team has grown by adding new members to fulfill the escalating demand across the whole insurance value chain. The head of our cyber reinsurance team will assist the deployment of capital into cyberspace.

Dynamic contract terms will probably become a persistent feature of the cyber insurance industry as a result of the requirement to constantly reassess changing cyber risk exposures.