Cerchia, a Swiss fintech firm, has facilitated the first cyber trade using the PCS Global Cyber industry-loss index trigger. This is considered a milestone in reinsurance, insurance-linked securities (ILS) and risk transfer markets. The trade addresses the growing threat of disastrous losses from cyber events. Cerchia’s platform, which now incorporates the PCS Global Cyber industry loss index, allows companies to directly place bids for coverage. A California wildfire trade has also been completed on the platform.

‘Cyber incident’ continues to disrupt computer networks at some Sudbury-area schools – CTV News
Several schools in the Sudbury area continue to face disruptions in their computer networks due to an ongoing cyber incident. This has caused challenges for