The insurance industry has been asked by Lloyd’s, regulators, and its own senior management to understand its exposure to this type of cyber risk. To address this, AIR has developed a comprehensive database of industry exposures that provides the information insurers need for accurate modelling and has used it to form the basis of the alternative modelling approach described in this report. The results of this cloud downtime scenarios analysis could help insurance managers gain insights into how to grow their cyber business in a controlled and prudent manner.