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Your search for “cyber insurance”

Cyber insurance rates decline on capacity increase

24th August 2017

Cyber insurance rates and prices in the United States declined for the second consecutive quarter in Q2 2017, as the increasing availability of capacity targeting cyber liability underwriting influences the market. According to the latest quarterly look at global insurance rates by broker Marsh, the cyber risk underwriting segment has just ... Read the full article

Korean government to back cyber insurance uptake

5th July 2017

The Korean government has launched a research initiative with the Consortium of Computer Emergency Response Team, to boost the domestic cyber insurance market. The Korean Ministry of Science, ICT & Future Planning's new cyber-smart policies could include incentives for policyholders that make use of both cyber insurance and information security service providers. On the ... Read the full article

No cyber insurance surge following WannaCry: Research

3rd July 2017

The recent ransomware cyber attack named WannaCry has not stimulated much of an uptick in demand for cyber insurance coverage, according to research carried out among brokers. The survey of 250 UK insurance brokerages shows that after the WannaCry cyber attack there has been little increase at all in the number ... Read the full article

U.S. cyber insurance pays off despite high loss ratios in 2016: Aon Benfield

11th May 2017

Reinsurance broker Aon Benfield's cyber insurance update for 2016 showed U.S. cyber insurance as profitable despite it being a line of business with above average loss ratios. With cyber being the second top rated business risk throughout Europe and the U.S., the report shows insurers and reinsurers have made progress in leaps ... Read the full article

Willis Towers Watson to offer airline cyber insurance solutions

7th April 2017

Willis has moved deeper into cyber risk solutions with the introduction of CyFly - an insurance product that expands business interruption cover to include a wider range of airline cyber exposure associated costs. Willis’ recent industry risk index identified failure of critical IT systems as the biggest risk facing the global aviation ... Read the full article

Endurance appoints cyber insurance product leader

24th March 2017

Bermuda-based insurance and reinsurance group Endurance Specialty Holdings Ltd. has named Brad Gow as its cyber insurance product leader. Gow has been with Endurance since March 2011, as a Senior Vice President with product responsibilities for the firm's Endurance Pro professional liability and cyber risk insurance businesses. As Global Cyber Product Leader for Endurance ... Read the full article

Relm Insurance partners with cyber risk manager NetDiligence

15th March 2023

Specialty insurer Relm Insurance has announced a new partnership with NetDiligence, a provider of cyber risk readiness and response services, to deliver a suite of cyber risk monitoring solutions. Solutions will be provided to policyholders via automated enrolment through NetDiligence’s eRiskHub platform, which is designed for the prevention, reporting, and recovery ... Read the full article

Cyber risk management impacts insurance pricing and credit ratings: S&P

2nd March 2023

Despite a growing interest in cyber insurance, the organisational structures, workplace culture, and wider risk management ecosystems that combine to minimise cyber threats are still often lacking, cyber experts told S&P Global Ratings. They also highlighted that insurers are assessing their clients’ cyber preparedness to determine the cost of their premiums, ... Read the full article

Reinsurance the smartest approach to cyber as AXIS gets more comfortable with the tail: CEO Benchimol

1st February 2023

After renewing its cyber treaty at the January 1st reinsurance renewals, AXIS Capital Holdings, the Bermuda domiciled global insurer and reinsurer, is "very satisfied" with the program it secured, as it continues to add more comfort around the tail risk, according to Albert Benchimol, President and Chief Executive Officer (CEO). Read the full article

Zurich leads series B funding round for cyber insurtech BOXX Insurance

1st February 2023

Toronto-based insurtech BOXX Insurance has announced a $14.4 million Series B funding round, bringing the total amount raised in the last 16 months to $24.5 million. Zurich Insurance led the latest funding round, with Jack Howell, CEO of Zurich Global Ventures, commenting, "We've seen how difficult it is to build cyber ... Read the full article

Mosaic partners with Safe Insurance to launch cyber risk platform

12th December 2022

Underwriting company, Mosaic Insurance has partnered with Safe Security to use its award winning SAFE platform to help underwrites evaluate cyber risks for brokers and insureds. The platform offers a real-time view of the extent and nature of a company’s enterprise-wide cyber risk, allowing the most accurate exposure analysis, coverage, and ... Read the full article

Insurance can help strengthen cyber resilience as risks evolve: Swiss Re

23rd November 2022

In recent years there has been a strong increase in cyber attacks, which has made organisations and companies realise that they can become a target and face serious consequences, Swiss Re Institute notes in a new report. They have also realised that investing in pre-emptive mitigation efforts and cyber hygiene is ... Read the full article

Russian cyberattacks to cause more insurance disputes: GlobalData

22nd November 2022

A new report from GlobalData says that cyberattacks from Russia could be set to cause more disputes between businesses and insurers following the Zurich-Mondelez case. The firm said in its 2022 UK SME Insurance Survey that 9% of SMEs in the UK that purchased cyber insurance in 2022 said the Russia-Ukraine ... Read the full article

Arch Insurance appoints Sam Bradley as senior cyber underwriter

21st November 2022

Arch Insurance has appointed Sam Bradley to the role of senior cyber underwriter. Bradley will take on the role immediately, be based in London, and is set to report to Marcus Breese, head of cyber and technology E&O. He joins from Willis Towers Watson where he was a senior cyber broker. ... Read the full article

BOXX Insurance acquires cyber platform Templarbit

9th November 2022

Toronto-based cyber insurance specialist BOXX Insurance has acquired cyber intelligence platform Templarbit. Terms of the deal were not disclosed, but BOXX said it gave the firm ‘additional momentum’ to pursue its vision of ‘making the world a digitally safer place’. With teams in Palo Alto and Los Angeles, Templarbit was founded by ... Read the full article