Guy Carpenter introduces CatStop+

Guy Carpenter announced the creation of its new cyber reinsurance product, CatStop+. Guy Carpenter completed its first transaction under CatStop+ during the January 1, 2024 renewal period.

CatStop+ is a first-of-its-kind market-tested structure designed to address the volatility of cyber risk. Leveraging proprietary wording, flexible architecture, and analytics from GC’s CyberExplorer^® DataLake, the approach provides low-attaching catastrophic protection without the potential for basis risk. CatStop+ helps solve many of the hurdles cyber (re)insurers face, 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.

“CatStop+ offers our clients protection against cyber cat losses with transparency and timeliness. It 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. “We are thrilled to offer our clients the reinsurance solutions they need as the cyber market continues to evolve.”