As discussions begin regarding the upcoming January reinsurance renewals, the question of how disciplined ILS managers will remain on contract structures looms, with Cahal Doris, Chief Investment Officer (CIO) Private ILS, at Twelve Securis suggesting that ILS managers would be wrong to give away structural improvements at 1/1. Moving forward, Doris addressed what he perceives to be the most significant challenges currently facing the ILS market. The long-term resilience of the ILS market will depend on greater transparency, better calibration of models,” Doris explained. “Expansion into risks like cyber, specialty, and casualty brings clear innovation opportunities for the ILS market, but also notable challenges. Read all of our interviews with ILS market and reinsurance sector professionals here.