The Cyber Industry Loss Index is an industry loss reporting service jointly created by PERILS and CyberAcuView. It reports affirmative US primary cyber market losses resulting from cyber incidents which affect more than one insurer and more than one policyholder. The reporting includes all events exceeding USD 500 million industry loss. Loss estimates are released at the latest six months after the event end date and are updated quarterly up to a maximum of three years after the event end date. The loss data are available for licensing for use in industry-loss-based risk transfer products such as Insurance Linked Securities (ILS) and Industry Loss Warranty contracts (ILW). Moreover, the loss database will support the further development of cyber risk models over time.
The cyber industry losses are based upon loss data collected from US cyber insurers. Data collection and aggregation is carried out by CyberAcuView with subsequent industry-level estimations jointly signed-off by CyberAcuView and PERILS. The initial industry loss and subsequent quarterly loss updates are made available to subscribers of the PERILS Cyber Portal. In addition, PERILS is acting as the industry loss reporting agency for ILS and ILW transactions.
CyberAcuView is a US-based organization serving the cyber insurance market and was formed by leading cyber insurers in June 2021.
To find out more please visit the PERILS Cyber Portal at cyber.perils.org.