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Jan 2016 Lloyd's starts a collaboration with three organizations specialized in risk modeling: AIR Worldwide, RMS and the Cambridge Centre of Risk Studies. This partnership aims to adopt a common standard model for managing cyber risks.
Developed by RMS, the "Cyber Exposure Data Schema" will serve as a basic tool for insurers and reinsurers. This model could encourage major market players to adopt a common approach to these risks and a better management of risk accumulation.