Drawing from the Experience of Nat Cat Modeling
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Actuaries Beware

CyberCube's Joshua Pyle, Director Product & Analytics, explains the actuarial changes with the evolution of cyber.

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Growth in the cyber insurance market has recently occurred at warp speed, with more than 60 companies writing in the United States alone1 and market premiums amounting to approximately $2.5 billion annually.2 The impressive year over year growth is expected to continue into the foreseeable future, with a variety of estimates placing market premium between $7.5 billion3 and $20 billion by the end of 2020.4


Actuaries are creative and intelligent problem solvers, but this creativity and intelligence is tested thoroughly when pricing cyber insurance. We still need the same suite of products used within any other catastrophe-exposed lines of business, but there are many challenges and complications with respect to cyber insurance that make this a particularly difficult task.