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Insurers to partner with governments, capital market for cyber risks


U.S.-based S&P Global Inc. said that insurers and reinsurers are likely to partner with governments and capital markets worldwide to boost available cyber risk capacity and mitigate its enormous loss potential, reports. A report by the ratings agency found that a lack of global standards, including the definition of cyber events, liberal exclusions in insurance policies and insufficient risk modeling are hampering the cyber insurance market's development.

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