The evolution of the cyber reinsurance sector has seen a significant shift in market structure to something much more palatable for providers of insurance-linked securities (ILS) capacity, according to Ari Chatterjee, Chief Underwriting Officer (CUO) at Envelop Risk.
Prior to 2020, cyber risk exposure was on the rise globally amid the increased interconnectedness of the world and accelerating digitisation.
The arrival of the Covid-19 pandemic and subsequent rapid spread of the virus across all corners of the world in early 2020 intensified this trend, leading to a dramatic spike in e-commerce take-up.
