Cyber outage parametric insurance
Pays out when a named cloud provider or network stays down longer than the agreed duration, whatever the cause.
Index, trigger and payout
Payout
How the cover works
What is measured, and when it pays.
- Risk covered
- Business interruption from a verified outage of internet connectivity or a named cloud provider.
- Parametric trigger
- Outage duration for a named provider/region.
- Payout
- Predefined payout compensating the loss, sized on an 11-tier trigger scale.
- Index resolution
- Named asset, per event
- Data and model
- Log-normal distribution — standard outage-duration/MTTR model (reliability-engineering literature).
- Typically for
- Digital-dependent businesses
Digital family
Other digital covers.
Next step
Test the trigger on your own location.
We back-test the index at your site over its full history and come back with indicative terms, before anything is bound.