Guy Carpenter Introduces Cyber CatStop+ To Manage Risk Volatility

During the recent January 1 renewal period, Guy Carpenter implemented CatStop+, a low-attaching cyber event reinsurance product with aggregate stop loss protection.

CatStop+ was designed to address the volatility of cyber risk. Leveraging Guy Carpenter's own analytics, the approach provides low-attaching catastrophic protection without the potential for basis risk, Guy Carpenter said in a statement.

CatStop+ helps solve many of the hurdles cyber reinsurers face by striking a balance between coverage from peak perils, tail protection, and cost-effectiveness while bringing clarity to recovery of losses resulting from a severe cyber event, according to Guy Carpenter.

"CatStop+ addresses event definition basis risk concerns with a sleep-at-night aggregate stop loss cover while also achieving cost efficiencies," said Erica Davis, global co-head of cyber, Guy Carpenter.