With technology at the heart of our client’s foundation and ‘Cyber’ very much a hot topic, we were asked to research and describe how cyber risk can be transferred to the capital markets in ways similar to, say, hurricane risk. We started by defining catastrophes, then cyber risk particularly and then looked at what insurance-linked securities (ILS) are and how are they applied. As well as creating a report, we also built demonstration software, whereby we now provide the ‘triggers’ and indices needed for an ILS. The software is implemented on a smart ledger as well as a central database: http://cyber-cat-ils.longfinance.net/ which shows you a live cyber index, as well as a demonstration of how the polling 'triggers' a live ILS. The smart ledger approach provides greater independence for the trigger, and a significant, additional, cyber defence. Following the launch, we were able to introduce a broker to an investment bank, to take the cyber catastrophe ILS development forward in the ‘real’ world. The report, Cyber-Catastrophe Insurance-Linked Securities On Smart Ledgers is in the public domain.