RMS recently participated in a cyber model comparison exercise at the Cat Risk Management and Modelling conference in London. These types of comparison for natural catastrophe models have been performed at several conferences during the last decade, but this was the first time that losses from multiple cyber models had been compared in this way. The assessment included established cyber model firms such as RMS and Guidewire, as well start-ups including Corax, Kovrr and CyberCube.
This comparison exercise clearly demonstrated that the cyber modeling industry has not reached a consensus on the likelihood and impact of extreme cyber catastrophes. The comparison was run against a small number of accounts – looking at a total of 46 U.S. companies across a range of industry sectors.