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Business Insurance: Catastrophe modelers developing cyber risk technologies to assess exposures

Andrew Coburn, Cambridge, England-based vice president of catastrophe research at Risk Management Solutions Inc., said the catastrophe modeler is working with clients in a development capacity rather than releasing a general model. RMS is helping those clients standardize the manner in which they capture cyber insurance exposure data and better assess their probable maximum losses from cyber events. “The principles of cyber catastrophe modeling are similar to other catastrophe models, such as hurricane, but they are not spatial or geographical in impact,” Mr. Coburn said in referring to cyber crimes’ potential global effects.

Dr Andrew Coburn is a Fellow of Cambridge Judge Business School, and Director of the External Advisory Board at the School’s Centre for Risk Studies.

Read the full article [businessinsurance.com]