CyberCube, a specialist modelling firm for cyber risks and exposures, has launched Portfolio Manager Version 6 (PMv6), the latest version of the organisation’s catastrophe model that empowers portfolio-level insights.According to the announcement, this updated version has been designed to reflect the evolution of the cyber insurance market into a global entity, integrating advanced modeling for international risks and explicitly considering geographic variations for cloud outages and malware attacks.CyberCube also confirmed that PMv6 places stronger emphasis on mitigation, recognising the need to evaluate how protective measures can reduce the impact of large-scale cyber events, an area that has seen less focus compared to resilience against attritional losses.It’s important to remember that CyberCube’s Portfolio Manager risk model has been used for the majority of cyber catastrophe bonds, You can read about every cyber cat bond transaction, including the first private cat bond deals and the more recent 144A cyber cat bonds, .

CyberCube confirmed that for this latest release, it researched internal and external cyber experts to help organisations prepare for and recover from catastrophic events.The organisation also noted that v6 makes greater use of companies’ security scores and introduces several new risk modifiers that users may enter based on underwriting information aligned with NIST and CIS security control frameworks.“This release marks an important step forward for our industry.

We expect that over time, the new functionality introduced in this model will inform how (re)insurers understand the primary characteristics of cyber risk during underwriting and exposure management,” commented Jon Laux, CyberCube’s VP of Analytics.Additionally, diversification is also a key theme of the v6 release.While the current cyber insurance market remains highly concentrated in the United States, CyberCube anticipates future growth in new geographies, like Europe and Asia.

Consequently, CyberCube has enhanced and expanded PMv6’s Enterprise Intelligence Layer (EIL) to include more international company data.CyberCube noted that changes to the EIL reflect the development of the cyber market internationally, with strong growth in data collection focused on countries such as Germany, France, Australia, Spain, Canada, the UK, and Japan​.“Building on these enhancements to the EIL, PMv6 also captures the geographic variation possible among cloud service provider outages as well as variation in the epicenters and spread patterns of global ransomware and wiper malware attacks,” CyberCube explained.

Furthermore, CyberCube positions PMv6 as a key advancement in cyber catastrophe modelling, helping re/insurers with actionable intelligence to grow their global cyber exposure with awareness about the potential consequences on their catastrophe exposure.Ashwin Kashyap, CyberCube’s Co-founder and Chief Product Officer, said: “PMv6 represents a major step forward for cyber catastrophe modeling.We have made significant progress in addressing the drivers of diversification and risk mitigation for the benefit of the cyber insurance market.

As the market leader in cyber insurance analytics, CyberCube is proud to be the industry’s partner as insurers look to expand thoughtfully into new geographies.”.All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.Our can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.