In our first episode of the New Year we are focusing on cyber risk in 2026, a peril that looks increasingly systemic, yet remains poorly understood when it comes to how losses actually materialize.
Over the past decade, cyber risk modeling has matured rapidly. But as cloud concentration deepens, dependencies multiply, and “near miss” events become more frequent, a central question remains unresolved: what does a truly systemic insured cyber loss actually look like—and are markets prepared for it?
In this conversation with Coalion’s Dr. Morgan Hervé-Mignucci,Head of Risk Modeling at Coalition ,the discussion focuses on how cyber models have evolved, where they still fall short, and why many high-profile disruptions generate far less insured loss than the headlines suggest.