✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.
Bonolo Insurance Company, which is headquartered in Johannesburg, South Africa, is a prominent insurance provider that offers a wide range of insurance products and services tailored to meet the diverse needs of its clientele. With a strong commitment to customer satisfaction, financial security and innovation, Bonolo Insurance has established itself as a trusted partner in the insurance industry. The company is experiencing a surge in claims related to ransomware attacks. These claims exceed its capacity to absorb the losses. Which type of reinsurance would be most suitable for transferring a portion of this specific risk to the reinsurance market?