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Your search for “cyber insurance”

C&F promotes Nick Economidis to Senior VP of Cyber Insurance

21st September 2022

Crum & Forster (C&F) has announced the promotion of Nick Economidis to Senior Vice President of eRisk. Economidis joined C&F as Vice President of eRisk in 2018, aiding with business line growth and the expansion of its tech and cyber underwriting group. He holds more than three decades of underwriting experience, including ... Read the full article

Coalition launches in UK cyber insurance market

5th September 2022

Insurance brokers across the UK now have access to the cybersecurity tools provided by American insurer Coalition, as it has commenced trading in the country this month. Coalition entered a multi-year capacity agreement with Allianz Global Corporate & Specialty and will distribute its products via brokers. According to the announcement, it will ... Read the full article

Cyber insurance study suggests businesses lack ransomware insurance

22nd August 2022

A recent BlackBerry Cyber Insurance Coverage study shows that businesses are growing increasingly concerned about how they will meet ransomware demands. Only 19% of those surveyed have ransomware coverage limits above $600,000, while 59% hoped the government would cover damages when future attacks are linked to other nation-states. Shishir Singh, Executive Vice ... Read the full article

CyberCatch & Ridge Canada announce partnership to enable SMO’s to obtain cyber insurance

12th August 2022

Cyber security software-as-a-service (SaaS) company CyberCatch has announced a strategic partnership with Ridge Canada Cyber Solutions Inc. (RCCS) to enable Canadian small and medium organisations (SMOs) to obtain cyber insurance. Approximately, there are 1.2 million SMOs in Canada and the majority of them do not have cyber insurance, or those that do are ... Read the full article

Ransomware and Ukraine war the big risks for cyber insurance: CyberCube

12th August 2022

Ransomware continues to be largely responsible for the insurable cyber losses experienced by companies, with the maritime sector and satellite infrastructure being more likely to be targeted by cyber criminals, according to a recent report. Additionally, CyberCube’s H2 2022 Global Threat Briefing analysed the cyber activity following Russia’s invasion of Ukraine ... Read the full article

Coalition raises $250m in Series F funding to support its cyber insurance solution

8th July 2022

Coalition has announced that it has raised an additional $250 million in Series F funding to accelerate its rapid growth, power international expansion, as well as broaden the services it offers to help organizations manage digital risk. The funding round closed in June, with participation from Allianz X, Valor Equity Partners, ... Read the full article

Cyber insurance prices set to increase for energy companies

29th June 2022

Energy and utility companies have become the main target for cyber attacks, according to a recent report by re/insurance broker Gallagher. Given the growing threat of such attacks, demand for cyber insurance from these companies has skyrocketed in recent months, the broker noted. According to the report, in response to a surge ... Read the full article

Cyber insurance pricing rises amidst multiple factors – Marsh

14th June 2022

The latest UK Cyber Insurance Trends Report from Marsh states that pricing in the sector rose quickly in Q3 and Q4 2021, while the market focuses on addressing systemic risk. However, Marsh said that efforts to tackle this through exclusionary language have caused frustration for clients, while the ongoing war that ... Read the full article

Cyber insurance gap ‘disproportionately high’ – Munich Re

20th May 2022

The insurance gap for cyber products is ‘disproportionately high’, says Munich Re in a new report. The 26-page work, the Munich Re Global Cyber Risk and Insurance Survey 2022, posits that while global cyber premiums are currently $9.2bn annually and are set to reach $22bn in the next three years, the ... Read the full article

US cyber insurance payouts increase, amid rising claims: Fitch

19th May 2022

Analysts at Fitch Ratings have said, that cyber insurance has become the fastest growing segment for US property & casualty (P&C) insurers as evolving threats have “boosted” the demand for coverage, with insurers actively raising prices in response to rising claims. In the analysts latest report on the US cyber insurance ... Read the full article

At-Bay launches new cyber insurance program, backed by Trisura & HSB

16th May 2022

Cyber insurance provider At-Bay has announced the launch of a new cyber insurance program backed by two leaders within specialty insurance – Trisura Specialty Insurance Company and The Hartford Steam Boiler (HSB). Trisura serves as the new issuing carrier for the cyber and tech errors and omissions (E&O) program, while HSB ... Read the full article

79% of policyholders believe cyber insurance is worth the cost: Cowbell Cyber

14th April 2022

Findings from Cowbell Cyber’s first ever cyber insurance report dedicated to small and medium sized enterprises (SMEs) – Cyber Round Up, highlighted that 79% of policyholders believe that cyber insurance is worth the cost. In January 2022, Cowbell surveyed its policyholders – SMEs with up to $250 million in revenue, to ... Read the full article

Cyber insurance in P&C industry grew by 22% in 2020: Fitch Ratings

25th March 2022

According to rating agency Fitch Ratings the Cybersecurity and Identity Theft Insurance Coverage Supplement reported that cyber insurance direct written premiums for the property & casualty (P&C) industry grew by 22% in 2020 to over $2.7 billion. Cyber insurance continues to be viewed as a growth market for P&C insurers, as ... Read the full article

Reinsurers could unlock the cyber insurance market: S&P

30th September 2021

In a recent report, S&P Global Ratings says the demand for cyber coverage has increased significantly since before COVID-19 and that a stronger partnership between insurers and reinsurers could help strengthen coverage, give greater balance sheet protection against frequent, high-severity losses Analysts estimate that primary insurers pass 35%-45% of global cyber ... Read the full article

AXIS and Elpha Secure enter cyber insurance partnership

17th March 2021

AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, and Elpha Secure, a cyber security company have entered a strategic partnership to provide cyber insurance and software protection to small businesses to help improve their cyber security. Elpha Secure offers Elphaware, a Software as a Service (SaaS) application used ... Read the full article