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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
Trium Cyber announces opening of London office
20th September 2023
US-based Trium Cyber, a Lloyd’s of London cyber specialist, has announced the opening of its London office to write coverage for clients based outside of the US. Trium Cyber’s London office will be headed by Amie Watson as Head of International Underwriting. The new office will be writing excess layer direct ... Read the full article
Corvus Insurance expands cyber partnership with Travelers
20th September 2023
Corvus Insurance, an AI-powered cyber specialty insurer, has announced it has expanded its relationship with Travelers, a personal, business and specialty insurer. Through this partnership Travelers will serve as a capacity provider for Corvus products in the United States, starting October 1, 2023. In 2022, the two companies announced a similar ... Read the full article
There is enough data to create models and insure cyber risks: Russell Group
20th September 2023
With cyber being one of the top emerging risks for the re/insurance industry, some believe there are still many challenges to overcome, one of them being the creation of models to make it insurable, as it is argued there is not enough data yet to support them. Data and analytics firm ... Read the full article
QBE launches cyber offering in Middle East, hires Marsh’s Sarah Hamlat to lead
18th September 2023
Primary insurer QBE has announced that it has launched a cyber offering in the Middle East as part of its global cyber growth strategy. According to the firm, the new offering forms part of QBE’s International Markets portfolio. At the same time, QBE has appointed Sarah Hamlat as Senior Cyber Underwriter to ... Read the full article
AXA XL names Anthony Dagostino as Global Chief Cyber Underwriting Officer
14th September 2023
AXA XL, a prominent global insurance and reinsurance firm, has announced the appointment of Anthony Dagostino as the Global Chief Cyber Underwriting Officer for Commercial Lines. Dagostino, a seasoned professional with over 20 years of experience in the cyber insurance industry, will be based in New York and will report directly ... Read the full article
Cowbell and Zywave partner to expand cyber insurance access for SMEs
14th September 2023
Cowbell, a prominent provider of cyber insurance tailored for small- and medium-sized enterprises (SMEs), has announced a strategic partnership with Zywave, a leading insurtech solutions provider. This groundbreaking collaboration is facilitated by Herald, a digital infrastructure provider connecting software developers to commercial insurance carriers through a unified API. It leverages Cowbell's cutting-edge ... Read the full article
reThought Flood acquires CyberBoxer and secures $1m investment
14th September 2023
reThought Flood, a technology-centric underwriting agency specialising in US flood risk, has unveiled two significant developments poised to strengthen its position in the insurance industry. In a strategic move, reThought has finalised an agreement to acquire CyberBoxer, a prominent insurTech company renowned for its expertise in data science, modeling, artificial intelligence ... Read the full article
Arch launches proactive cyber insurance solution, Arch CyPro
13th September 2023
Arch Insurance has announced the launch of Arch CyPro, a "pioneering cyber insurance solution designed to proactively safeguard businesses in an environment of rapidly evolving cyber threats." According to the firm, Arch CyPro is powered by the Arch Cyber Risk Engineering Team (ACRE), a specialist cyber team integrated into every stage ... Read the full article
Guy Carpenter & Marsh McLennan report debunks cyber-stock market correlation fears for ILS investors
13th September 2023
In a collaborative effort, Guy Carpenter and Marsh McLennan's Cyber Risk Intelligence Center have released a comprehensive report addressing concerns by insurance-linked securities (ILS) investors regarding the potential correlation between major cyber events and the performance of the stock market. Titled "Double Whammy? Examining the Correlation Between Major Cyber Events and ... Read the full article
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