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Aspen names Bobby Bianconi Global Head of Cyber

29th September 2023

Bermuda-based re/insurer, Aspen Insurance Holdings Limited, has announced the appointment of Bobby Bianconi as Global Head of Cyber. In his new role, based in Connecticut, Bianconi will lead Aspen’s Global Cyber underwriting team, overseeing its underwriting strategy and risk management capabilities. He will also maintain oversight of Aspen’s recently enhanced Cyber Risk ... Read the full article

Coalition partners with HDI Global Specialty to expand cyber insurance in Canada

28th September 2023

Coalition, a pioneering Active Insurance provider focused on preemptively mitigating digital risks, has unveiled a strategic long-term partnership with HDI Global Specialty SE. As the specialty insurance arm of HDI Global SE, a renowned insurer, HDI Global Specialty SE is set to make significant inroads into the Canadian cyber insurance market ... Read the full article

Collaboration key to managing rising cost of cyber insurance: Resilience’s Hussain

28th September 2023

"Managing the rising cost of cyber insurance requires a collaborative approach across the industry... By working together, the industry can create a more resilient and sustainable market," suggests Rehan Hussain, Head of Underwriting in the UK and Europe at cyber risk solution company Resilience. Hussain's comments stem from an interview with ... Read the full article

2022 US Cyber insurance premium surge, but CL0P/MOVEit attack threat looms in 2023: Aon

28th September 2023

The National Association of Insurance Commissioners (NAIC) has reported a remarkable 50% increase in US cyber insurance premiums in 2022, totaling $7.22 billion, according to Aon's U.S. Cyber Market Update. While this growth is notable, the industry's performance also reveals emerging challenges, with the CL0P/MOVEit attack taking center stage as a ... Read the full article

Chubb and SentinelOne partner to enhance cybersecurity for U.S. businesses

27th September 2023

In a strategic move aimed at bolstering cybersecurity practices for American businesses, Chubb, the world's largest publicly traded property & casualty insurance company, has embarked on a collaboration with SentinelOne, a renowned leader in the field of cybersecurity. This partnership marks a significant step forward in cyber risk management for Chubb's ... Read the full article

Cyber threats remain top concern for businesses in 2023: Travelers Risk Index

27th September 2023

In the recently released 2023 Travelers Risk Index, The Travelers Companies, Inc. highlighted that for the ninth consecutive year, cyber threats continue to rank among the top three business concerns for a wide spectrum of companies. The annual survey, which encompassed responses from 1,200 participants representing small, medium, and large-sized enterprises, ... Read the full article

Lack of cyber education leaves SMEs vulnerable to cyberattacks: Cowbell

27th September 2023

A new survey commissioned by Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs), has revealed a concerning lack of cyber education within businesses, putting 3 out of 4 SMEs at risk due to inadequate risk prevention efforts. The study underscores the pivotal role employees play in ... Read the full article

Catherine Lyle named Senior VP and Head of Cyber Claims at Tokio Marine HCC – CPLG

27th September 2023

Tokio Marine HCC – Cyber & Professional Lines Group (CPLG) has announced the appointment of Catherine Lyle as Senior Vice President and Head of Cyber Claims & Incident Response, effective September 25, 2023. Lyle will be reporting directly to Michael Palotay, the President of the group. In her new role, Lyle ... Read the full article

Hannover Re’s Muehlbeyer highlights need for expanded capacity in cyber re/insurance market

26th September 2023

In a recent webinar titled "Cyber ILS – How can it be brought to the capital markets?" hosted by Twelve Capital, Max Muehlbeyer, Senior Underwriter for Retrocessions & Capital Markets at Hannover Re, shed light on the challenges and opportunities facing the cyber insurance and reinsurance sectors. Muehlbeyer underscored the burgeoning ... Read the full article

Cyber crime fears present massive opportunities for the industry: PwC’s Jim Bichard

26th September 2023

With cyber crime fears being heavily highlighted in PwC's "Insurance Banana Skins 2023" report, Reinsurance News spoke to Jim Bichard, Partner and Global Insurance Leader at PwC, at RVS 2023 about what the industry needs to do to try and combat these ongoing fears. "The amount of protection that currently exists ... Read the full article

Sompo Intl. hires Chubb’s Jérôme Gossé as Head of Cyber Insurance, Continental Europe

22nd September 2023

Sompo International, a global property & casualty reinsurer, has appointed Jérôme Gossé as Head of Cyber Insurance, Continental Europe.  In the role, he will report to Mathieu Borneuf, Head of Professional Lines, Insurance, Continental Europe. Gossé joins the company after a nearly six year tenure at Chubb European Group, ... Read the full article

Coalition’s mid-2023 report shows 12% rise in cyber claims due to ransomware & fraud

21st September 2023

In its "2023 Cyber Claims Report: Mid-year Update," Coalition, a leading Active Insurance provider for digital risk prevention, reveals a concerning 12% increase in cyber claims during the first half of 2023, driven by rising ransomware attacks and funds transfer fraud. The Mid-year Update underscores the broadening impact of cyber threats, ... Read the full article

Cyber attacks & financial risks named as biggest worry for mid-sized companies: QBE

21st September 2023

Cyber attacks and financial risks have been ranked as the biggest worries for mid-sized businesses, according to QBE North America. In their 2023 Mid-Sized Company Risk Report, QBE NA sheds light on the dynamic landscape of mid-sized businesses across the United States. The report, presents an in depth analysis of 12 macro ... Read the full article

BOXX Insurance to offer cyber protection education services through NSU partnership

21st September 2023

BOXX Insurance, an insuretch that combines cyber insurance and security, has announced a partnership with Nova Southeastern University (NSU) and its Alan B. Levan | NSU Broward Center of Innovation. According to the announcement, through this collaboration, BOXX will offer cyber protection education services and cyber insurance services to Levan Center's ... Read the full article

Cyberattacks on MGM and Caesars send ripples through industries: Guy Carpenter

21st September 2023

The recent cyberattacks on gaming and hospitality giants MGM Resorts International and Caesars Entertainment have sent shockwaves through the cybersecurity and insurance industries. Guy Carpenter's Cyber Center of Excellence has issued a Cyber Event Analysis briefing shedding light on these incidents and their implications. One of the key takeaways from the analysis ... Read the full article