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Coalition launches Active Cyber Insurance in Australia

6th November 2023

Coalition has introduced its suite of Active Cyber Insurance products in Australia. This insurance offering is designed to go beyond risk transfer, actively assisting organisations in understanding their cyber risk profiles, enhancing their cybersecurity defenses, and proactively preventing future cyberattacks, the company said. In recent years, Australia has witnessed numerous high-profile cyber ... Read the full article

Many SMEs are being left with a gap in coverage for cyber insurance: Cowbell’s Cooksley 

3rd November 2023

With the insurability gap within the small and medium-sized enterprise (SME) market continuing to grow as cyber attacks and the digitisation of work processes increase, one key issue that surrounds this, is that the cyber insurance products offered do not always match up with the financial losses that businesses may ... Read the full article

Ian Summerfield named Pen Underwriting Head of Cyber

1st November 2023

Pen Underwriting, a multi-class, multi-territory managing general agent (MGA), has appointed Ian Summerfield as Head of Cyber, effective January 1, 2024. Summerfield was promoted from his current role as Commercial Director of Pen’s Hazardous Goods & Environmental Industries niche within its Specialty division. His new position, will see Ian take on the ... Read the full article

Cyber insurance pricing decreases for first time since 2018: Marsh

1st November 2023

Globally, cyber insurance pricing decreased by 2% in Q3 of 2023, compared to a 1% increase in Q2, marking this as the first quarter to record an average decrease since the second half of 2018, according to insurance broker and risk advisor Marsh, a business of Marsh McLennan. More broadly, Marsh's ... Read the full article

Toa Re Europe licenses CyberCube’s Portfolio Manager platform

1st November 2023

Toa Re Europe has licensed CyberCube's Portfolio Manager platform, in a move that is set to support its cyber book, and play a pivotal role towards achieving best practice risk management solutions. According to the announcement, Toa Re Europe will utilize CyberCube’s Portfolio Manager to enable data-driven risk transfer solutions. The software from ... Read the full article

Trium Cyber appoints John Jankowski as CIO

1st November 2023

Lloyd's cyber insurance specialist, Trium Cyber, has appointed Aspen Insurance's John Jankowski as its Chief Information Officer (CIO). Jankowski has spent much of his career with Aspen, most recently as Head of IT Strategy and IT Change. During his time with the firm, Jankowski has held multiple roles in IT, Program Operations, ... Read the full article

AI presents opportunities and challenges to the cyber insurance space: Cowbell’s Cooksley 

31st October 2023

As AI technology continues to make headwinds across the re/insurance sector, Trent Cooksley, co-founder and Chief Operating Officer of Cowbell Cyber, explains that the technology brings both opportunities and challenges to the cyber insurance space. During a recent interview with Reinsurance News, Cooksley stated that challenge-wise, threat actors are increasingly using ... Read the full article

At-Bay launches new MDR cybersecurity solution for SMBs

26th October 2023

At-Bay, the cyber insurance provider, has launched a new Managed Detection and Response (MDR) solution, At-Bay Stance MDR, designed to help emerging and mid-sized businesses advance their security defenses and threat preparedness, in view of the rapid rise of cyber crime rates. By analyzing its claims data from the past two ... Read the full article

Businesses lacking protection & recovery plans against cyber attacks: The Hanover

26th October 2023

Data from a recent cyber resiliency report from The Hanover highlights that 74% of small and mid-sized business decision-makers (defined as C-level executives at businesses with 3-249 employees) are confident in their ability to prevent cyberattacks effectively. Quite an alarming concern however, is that most businesses are said to not have ... Read the full article

Arch expands European footprint with two cyber appointments in France

25th October 2023

Arch Insurance has appointed Sergio Pierro as Senior Cyber Underwriter and Roxanne Deslandes as Cyber Underwriter, effective immediately. According to the firm, Pierro and Deslandes will join Arch Insurance (EU) dac, which provides specialist property and casualty insurance solutions within the European Union. Based in Paris, Pierro’s responsibilities are to establish Arch's ... Read the full article

Marsh to launch global cyber practice to enhance risk management

25th October 2023

Marsh, a global insurance broker and risk advisor, has announced the establishment of a comprehensive Marsh Specialty global cyber practice. This initiative integrates Marsh's extensive cyber capabilities, spanning insurance, risk intelligence, incident management, and cybersecurity on a global scale. The new practice, set to formally commence operations on January 1, 2024, will ... Read the full article

Arch Insurance strengthens cyber segment with senior appointments in Spain

23rd October 2023

Dublin-based Arch Insurance (EU) dac, a subsidiary of Arch Insurance International has hired Jose Carlos Jiménez Fernández and Rafael Ortiz Losada as Senior Cyber Underwriters, effective immediately. Both the appointments are based out of Madrid. The pair will be responsible for growing Arch’s European cyber insurance portfolio, writing primary and excess ... Read the full article

Resilience notes uptick in data exfiltration as cybercriminals change tactics

23rd October 2023

Cyber risk solution provider Resilience has noted that cybercriminals have begun shifting their tactics to bypass security controls by hitting critical vendors and seeking larger extortion targets. In its Midyear 2023 Claims Report, the firm says that cybercriminals are returning to "big-game hunting," particularly focusing on organizations with sensitive data with ... Read the full article

Businesses access to cyber insurance impacted by employee mistakes and poor security: QBE

20th October 2023

Employee mistakes and poor security are leaving businesses open to cyber-attacks; addressing these issues will allow companies to access full levels of cyber insurance, according to a recent QBE report. QBE’s survey revealed that almost a third of employees (31%) have made mistakes that could impact the cyber security of their ... Read the full article

Beazley’s first 144a cyber catastrophe bond expected by year-end

19th October 2023

London-based specialty insurer and reinsurer, Beazley, is set to follow up on its three private transactions with its first full 144a cyber catastrophe bond issuance by the end of the year, according to Artemis sources. Our insurance-linked securities (ILS) focused sister site, Artemis, reported earlier today that Beazley is close ... Read the full article