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Pool Re cyber risk coverage to incentivise cyber-resilience
17th March 2017
Pool Re, the UK government and industry backed terrorism reinsurance scheme, is ploughing ahead with its plans to add property coverage for terror-related cyber events to its offering. According to its Chief Executive Officer (CEO), Julian Enoizi who spoke with Reuters last week, the coverage arrangements will include incentives to ... Read the full article
Pool Re hopeful to include terror-related cyber for property cover: CEO, Enoizi
10th March 2017
Pool Re, the UK government and industry backed terrorism reinsurance scheme, is planning to extend its coverage to include cyber attacks on property, says the entities Chief Executive Officer (CEO), Julian Enoizi. Speaking to Reuters, Enoizi said "Insurance is there for the unimaginable - we're here to insure the unforeseen," and revealed that ... Read the full article
Driverless cars may increase cyber reinsurance demand: Fitch
9th March 2017
The adoption of driverless or autonomous cars and other vehicles will completely transform the motor insurance sector, according to a report from Fitch Ratings. The impact on reinsurance markets is as yet unclear, although many believe that a general shrinking of the motor insurance risk pool will occur, as accidents become ... Read the full article
Swiss Re highlights role of re/insurance in cyber risk
6th March 2017
Swiss Re has launched its new re/insurance think tank, the Swiss Re Institute, with the release of a report that investigates the growing sphere of cyber risk, examining constraints in risk assessment as well as potential new models for risk analytics and coverage. Opportunities for reinsurance are expanding in the fast-developing ... Read the full article
Report highlights potential shortcomings of organisations’ cyber controls
1st March 2017
A new report claims that insurance and reinsurance protection alone is insufficient to manage the growing threat of cyber attacks, citing that cyber controls utilised by organisations to mitigate data breaches, and similar, might not be up to the task. The analysis and report on the capabilities of cyber controls comes ... Read the full article
Arthur J. Gallagher targets cyber coverage gaps for manufacturers
9th February 2017
With a newly launched cyber insurance product broker Arthur J. Gallagher is targeting some of the gaps in existing cyber coverages, a step that could help to open up some of the untapped cyber exposure to the market which could generate significant reinsurance demand. Backed by A rated Lloyd's of London ... Read the full article
QBE signs deal to licence RMS Cyber Accumulation Management System
3rd January 2017
QBE Insurance Group has agreed a multi-year deal to licence the RMS Cyber Accumulation Management System, with catastrophe risk management firm RMS. The risk modeller explains that the agreement will allow the insurer's cyber business to model a variety of cyber catastrophe events. The growing threat of cyber attacks across the ... Read the full article
Coalition reveals new integrations with Microsoft 365, Google Workspace, & Amazon Web Services
16th April 2024
Coalition, an active cyber insurance provider, has revealed new integrations between Coalition Control, its cyber risk management platform, and cloud services providers, which includes Microsoft 365, Google Workspace, and Amazon Web Services. It has been confirmed that Coalition policyholders and Control customers can now connect Coalition Control with cloud services, in ... Read the full article
Naturally moderated P&C price momentum to persist: Goldman Sachs
20th March 2024
According to analysts at Goldman Sachs, the moderating pricing momentum in the Property and Casualty (P&C) sector has persisted in the early months of the year and is expected to continue throughout 2024. Goldman comments, “Price momentum has naturally moderated after the strong increases in 2020-21.” In 2022, there was a price ... Read the full article
Inflation, climate and legal risks among headline challenges for Euro P&C insurers in 2024
20th February 2024
As per a new report from Moody's, claims inflation and increased exposure to weather events are the "main credit risks" for European property & casualty (P&C) insurers in 2024. According to Moody's analysts, consumer price inflation is receding, but wage increases "will fuel a continued rise" in claims expenses. In turn, ... Read the full article
‘Resilience’ emerges as key theme in global insurance landscape in 2023: Aon
8th February 2024
In a comprehensive analysis of the global insurance landscape, Aon's latest report for Q4 2023, led by Joe Peiser, Chief Executive Officer of Commercial Risk Solutions, highlights resilience as the defining theme of the year. Despite economic volatility, geopolitical instability, and mounting climate concerns, communities and businesses have demonstrated remarkable resilience. The ... Read the full article
Lloyd’s of London investment in Axio to support company growth and benefit the market
8th February 2024
Re/insurance marketplace Lloyd’s of London has announced investment in Axio to support further development of insurance solutions within the London insurance market. According to the announcement, the investment is a direct result from Axio’s selection into, and participation in Lloyds’s Lab Cohort 10, where it successfully piloted an extension of the ... Read the full article
DeNexus set to launch Bermudian subsidiary this year
7th February 2024
DeNexus, a provider in cyber risk modeling for industrial networks, has announced plans to launch its subsidiary, DNX Intermediaries (Bermuda) Ltd, this year. This announcement came as DeNexus also announced significant investments from energy and insurance companies to meet the escalating global demand amid evolving cyber threats to critical infrastructure and ... Read the full article
Coalition appoints Mark Bird to lead UK Incident Response division
15th January 2024
Coalition has announced the appointment of Mark Bird as the head of Coalition Incident Response UK Ltd. (CIR), the company's affiliate incident response and cyber forensics organisation. Bird, a former Acting Sergeant in the police cybercrime unit, brings over 16 years of experience in investigating cybercrime with the West Midlands Police. Mark ... Read the full article
Global survey reveals heightened business challenges amid unprecedented risks: Aon
29th December 2023
The ninth edition of Aon's Global Risk Management Survey highlights that conducting business has not become any easier since 2021; rather, it has become more volatile and uncertain. The survey, based on responses from nearly 3,000 participants across 61 countries and territories, delves into the shifting landscape of risks and the ... Read the full article