US$13.75m Cumulus Re is modelled by Parametrix and uses a parametric trigger to protect Hannover Re against cloud outage loss accumulation in its cyber portfolio.
Cole has 25 years industry experience and will be promoted from his position of Global Head of Underwriting Management and Deputy Chief Underwriting Officer, Marine.
Claims to be well in excess of GXL US$100m attachment point, leaving reinsurers bearing bulk of insured cost, but risk understood to be spread across 80 reinsurers.
New tool from Aon aims to transform climate data into actionable insights for insurers and businesses, with Singapore Climate Hub instrumental in developing tool.
