Descartes Insurance, the risk-carrying insurer formed in 2022 by climate-risk managing general agent Descartes Underwriting, has launched the first parametric cyber insurance for corporate clients in France.

Described as the first insurance of its kind offered anywhere in the world, “Cyber Shutdown Cover” is triggered when a third-party cyber specialist confirms that a cyber encryption incident has occurred at the insured organization as part of a rans

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