Studies and Special Reports

Cyber-risk insurance is a small but rapidly growing market. The rising frequency and severity of data breaches has made cyber risk one of the highest priorities for most businesses. However, despite the recent advances in defining, identifying and underwriting cyber risk, there are still numerous challenges from both the demand and supply side. This study examines the current state of the market, attempts to identify barriers to market growth and presents innovative solutions towards a stable, effective, growing and well-regulated cyber-risk insurance market.

The structure of the current retirement system based primarily on public savings and employer-provided retirement plans and partially on private savings and investments is under increasing strain serving a diminishing number of people well.

Traditional defined benefit pension plans or lifetime annuities to protect against longevity risk have been the best way to secure a stream of lifetime income. Over the last couple of decades, however, there has been a definite shift away from traditional pensions and towards 401(k) plans and other defined contribution plans.

When given the choice, most people do not purchase annuities in the retail market and do not typically elect to receive annuity distributions. As a result, with life expectancies increasing most Americans will have longer and longer retirements, yet fewer and fewer retirees will have secure, lifetime income streams.

This study explores how people think and plan for their retirements in this uncertain environment and how they react to different policy changes. Also, this study considers changes in the provision of retirement benefits and the future roles of the public and private sectors and whether there is a need for more market innovation and/or increased government intervention.