Opinion: PRA cyber consultation

Earlier this week the Prudential Regulation Authority (PRA)published feedback to market responses to its recent
consultation paper on cyber insurance risk.
All in all, it's a pretty anodyne read, with a number of
sections dedicated to definitions and various other intricacies
(for the record, "silent" cyber risk is from now on known
as "non-affirmative" cyber risk).
But the paper still delivered a pretty bruising assessment of
the (re)insurance market's approach to managing its cyber
exposures.