Assignment Task:
You are a risk management consultant tasked with designing alternative risk transfer financing tools to cover the following risks for various businesses. For this exam, you are required design alternative risk transfer products/solutions:
Business Interruption due to Cybersecurity Risks
Provide detailed explanations for its workings (coverage, exclusion, triggers etc.), data collection sources, target customers, pricing methodology using statistic tools learned in class(Explain the reference to the price calculation equation), customization options for the clients, and risk management strategies. Additionally, discuss the pros and cons of the product/solution you designed.
The product/solution can be derivative-based, insurance-based, captive insurance, catastrophe bond, parametric-trigger or multi-trigger insurance or the combination of all the tools that might fit the need to your answer.
Submission Format: you may include any necessary tables, graphs, and charts in an appendix.