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Your search for “cyber”

Cyber may be the most “underwrite-able line of business”: Ladeau, Trium Cyber

5th January 2023

In an interview with Reinsurance News, Josh Ladeau, Chief Executive Officer of Trium Cyber, syndicate 1322, explains what differentiates the firm from other underwriters of cyber risk. After gaining approval in November of last year, Trium Cyber is the first Lloyd’s-approved service company to provide coverage for US-domiciled cyber risks, ... Read the full article

CNA Hardy targets tech businesses with new cyber suite launch

5th January 2023

CNA Hardy, a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets, has launched Technology Package +, the latest addition to its specialist technology product suite. The company stated that Technology Package+ offers a completely updated, comprehensive suite of coverages including advanced cyber cover tailored to the ... Read the full article

Trium Cyber Syndicate 1322 begins to provide coverage

3rd January 2023

Trium Cyber has announced its US-based service company has begun to provide cyber and technology errors & omissions coverage for US-domiciled risks. Writing on behalf of Lloyd’s Syndicate 1322, the company is backed by Pelican Ventures and third-party capital providers like Asta, the leading third-party managing agent at Lloyd’s. In November ... Read the full article

Cyber attacks set to become “uninsurable” suggests Zurich’s Greco

28th December 2022

In an interview with the Financial Times, Zurich CEO, Mario Greco, has warned that cyber attacks will become “uninsurable” as the disruption from hacks burgeon. “What will become uninsurable is going to be cyber,” Greco said, “What if someone takes control of vital parts of our infrastructure, the consequences of that? ... Read the full article

Cyber mutual Miris to commence operations in 2023

23rd December 2022

Cyber insurance mutual Miris (Mutual Insurance and Reinsurance for Information Systems) has received an operating licence from Belgian regulators allowing it to begin underwriting by January 1, 2023. The company said it aims to provide additional cyber insurance capacity for its members as it seeks to integrate and enhance capacity from ... Read the full article

Alliant names CJ Dietzman Senior VP, Cyber Risk

21st December 2022

Alliant Insurance Services, a distributor of diversified insurance products and services, has announced the appointment of CJ Dietzman as Senior Vice President, Cyber Risk. In his new role, Dietzman will be part of the newly created Alliant Cyber, one of 14 Alliant industry-dedicated verticals. He will focus on delivering transformational cybersecurity ... Read the full article

CyberCube gets $50m growth funding from investors incl. Morgan Stanley

19th December 2022

Cyber risk analytics provider CyberCube has secured $50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value, with continued participation from all its existing investors. These include Forgepoint Capital, Hudson Structured Capital Management (Bermuda) Ltd., MTech Capital, and key investors from Stone Point Capital. Scott G. Stephenson, ... Read the full article

Safe Security launches new cybersecurity MGA

16th December 2022

Safe Security has launched an MGA specialising in cybersecurity called SafeInside Insurance. The firm said in a statement that the MGA looked to leverage API-based cyber risk telemetry and quantified insights to underwrite cyber insurance. Backed by an AM Best ‘A-rated’ carrier and panel of prominent, global reinsurance partners, SafeInside is introducing ... Read the full article

Cowbell establishes Cybersecurity Advisory Board

14th December 2022

Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has announced the launch of its Cybersecurity Advisory Board (CSAB), convening experts to drive cross-industry innovation According to the firm, the creation of this board accelerates Cowbell's mission to strengthen cyber resilience in the SME market through cross-industry innovation between ... Read the full article

Cyber competition slowing rate increases for firms with good security: WTW

13th December 2022

A new note from WTW says that increased competition from cyber underwriters has led to more nominal rate increases when organisations can demonstrate good cyber security controls year over year. The firm said in its note that these cyber underwriters were eager to write new business following the recalibration of 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

AXIS appoints Andy Maher to head of cyber and tech in London

9th December 2022

Specialty lines insurer AXIS has appointed Andy Maher of head of cyber and technology in London. In his new role, Maher leads the London-based team of underwriters, and will focus on developing the team and enhancing the range of products and services that the team offers to its distribution partners and ... Read the full article

FTT and ransomware are top drivers of cyber loss, Corvus finds

9th December 2022

New data from cyber specialist Corvus Insurance has found that fraudulent funds transfer (FFT) and ransomware are the top drivers of cyber loss in 2022, accounting for over 50% of all claims combined. FFT alone comprised 36% of all claims in Q3, Corvus’s Corvus Risk Insights Index shows, and continues to ... Read the full article

CyberCube reveals Version 4.0 of Account Manager

29th November 2022

Cyber risk analytics provider CyberCube, has released Version 4.0 of Account Manager, its software-as-a-service (SaaS) application for single risk re/insurance underwriters. The latest version of Account Manager includes a variety of improvements including new data, usability enhancements, as well as scoring and signal refinements. New financial quantification insights have also been introduced, ... Read the full article

Cyber a burgeoning risk pool with big challenges & big opportunities: Swiss Re

28th November 2022

Digitalisation is increasing exposure to cyberattacks throughout society, though as the risk landscape grows, so does awareness and demand for commercial and personal coverage, says the Swiss Re Institute. Swiss Re forecasts global cyber insurance premiums to reach $23 billion by 2025, from an estimated $10 billion in 2021. It adds that ... Read the full article