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Cerchia platform transacts first cyber ILW using PCS Global Cyber trigger

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.

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