In this IIL reinsurance webinar, Lucy Fraser, Geraldine Kearney, Fraser Barr and Souki Chahid discuss the ABI and Lloyd’s of London paper, ‘Components of a Major Cyber Event: A (Re)Insurance Approach’. The emerging and incredibly complex nature of cyber threats are a crucial challenge to our industry. There is no one single definition of a major cyber event, and history does not yet provide enough evidence to build one. However, getting ahead of these threats and understanding the risk they pose is where our industry excels. By collaborating with Lloyd’s, the webinar speakers and colleagues have been able to develop a framework and a consistent set of components for firms to consider when trying to build their own definitions. This should provide more certainty for insurers, government and customers.