"Decrypt" Offers a New Cyber Reinsurance Solution

Swiss Re and Capsicum Re have launched a new cyber reinsurance solution called Decrypt, which includes embedded, silent, and affirmative cyber risks.

Decrypt's modular approach is comprised of risk identification, quantification, and transfer, according to Swiss Re. It offers a lead line from Swiss Re of up to $50 million per client with the support of a growing pool of risk transfer capacity.

Anthony Cordonnier, head of cyber product management at Swiss Re, said, "Decrypt gives insurance companies a unique understanding of their portfolios' affirmative and silent exposures and offers protection against the aggregation of cyber losses across different lines of business."

Ian Newman, Capsicum Re's global head of cyber, said, "Decrypt begins with risk evaluation based on a detailed analysis of policy wordings and scenario mapping. The goal has been to align the Decrypt methodology between broker and underwriter in order to provide unparalleled insights into cyber exposures across enterprise-wide insurance portfolios while being able to offer bespoke reinsurance solutions."