ILS could make London global centre for cyber risk insurance

The push to make London an insurance-linked securities (ILS) hub
could eventually position the city as the global centre for cyber
risk insurance, according to BNY Mellon.
The UK government is aiming to publish draft regulations for a
new ILS framework later this year.
In a report released today (27 April), BNY Mellon said that the
framework could potentially allow new and emerging risks such as
cyber to be transferred to the capital markets.
The company examined cyber cat bonds...