The solution, which completed its inaugural transaction during the January 1, 2024 renewal period, aims to address the inherent volatility associated with cyber risk.
CatStop+ represents a meticulously crafted solution that combines proprietary wording, adaptable architecture, and analytical insights derived from GC’s CyberExplorer DataLake. This unique blend enables CatStop+ to provide low-attaching catastrophic protection, thereby minimizing the potential for basis risk.
Designed to navigate the complex landscape of cyber re/insurance, CatStop+ strikes a delicate balance between coverage for peak perils, tail risk protection, and cost-effectiveness. It effectively streamlines the process of recovering losses stemming from severe cyber events, offering clarity and reassurance to insurers and reinsurers alike.
The launch of CatStop+ underscores Guy Carpenter’s commitment to innovation and risk management in the ever-evolving cyber insurance market. With its market-tested structure and comprehensive features, CatStop+ is poised to make a significant impact in mitigating cyber risk volatility and safeguarding against unforeseen cyber threats.
“CatStop+ offers our clients protection against cyber cat losses with transparency and timeliness. It addresses event definition basis risk concerns with a sleep-at-night aggregate stop loss cover, while also achieving cost efficiencies,” Guy Carpenter global co-head of cyber Erica Davis said.
