The Z/Yen Group report stated that “a public-private cyber-catastrophe reinsurance scheme could be a new scheme, or an extension to the existing Pool Re for terrorism. Extending Pool Re would perhaps be easiest as there is already a mutual structure; potentially some seed funds for development; a risk assessment capability; and a track record of successful funding and operations”. The full report is available here.
In an interview with Post Magazine, Julian Enoizi, CEO of Pool Re discussed the finding of the report stating that “Funds for a potential public-private reinsurance scheme for cyber catastrophes should not be mingled with Pool Re, however, the remit of the terrorism fund’s management team could be extended to operate a separate cyber initiative”.
To read the full article, please follow the link to the Post website: http://www.postonline.co.uk/post/news/2420586/pool-re-boss-raises-prospect-of-separate-cyber-reinsurance-scheme