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Insurtech BOXX Insurance launches advanced cyber risk mitigation solution in partnership with AXA
30th January 2024
Insurtech firm BOXX Insurance, in partnership with AXA, has unveiled a cyber risk mitigation solution designed to offer vital support to small businesses. Recognising the pressing need for comprehensive protection against cyber threats for smaller enterprises, BOXX Insurance's user-friendly solution aims to assist businesses in predicting and preventing potential cyber attacks. Vishal ... Read the full article
Howden strengthens Cyber leadership team with new hires
26th January 2024
Global insurance group Howden, has added two new hires to its Cyber team, Kristoffer Haleen as Head of Cyber, Northern Europe and Manuel Perez Martín de la Hinojosa as Head of Cyber, Southern Europe and LATAM. Based in Sweden, Haleen joins Howden from WTW, where he served for close to nine ... Read the full article
Cyber events top global business risk for 2024: Allianz Risk Barometer
16th January 2024
In its latest Risk Barometer, Allianz reveals that cyber incidents have claimed the top spot as the foremost global business risk for 2024. This concern is underscored by the rising threat of ransomware attacks, data breaches, and IT disruptions. The closely following peril is business interruption, while natural catastrophes have surged ... Read the full article
Underwriters concerned about ransomware and supply-chain attacks: Woodruff Sawyer
12th January 2024
The cyber insurance market witnessed a major shift between 2022 and 2023, with a combination of positive trends and facts ultimately creating a soft cyber insurance market, which included higher pricing after a two-year hard market, reduced claim experience due to a lull in ransomware throughout 2022, and improved cybersecurity ... Read the full article
There is an underserved cyber market in the UK, Simon Hughes, Cowbell
9th January 2024
As a new entrant in the UK market, Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), recognises that there is an "underserved market in the UK", with the company having identified a way to serve this market with "expertise and tailored coverage options", says Simon Hughes, ... Read the full article
Aspen & Surefire Cyber launch cyber risk management services globally
8th January 2024
Specialty re/insurer Aspen Insurance Holdings Limited, has teamed with Surefire Cyber, a US-based firm, to launch Aspen Cyber Risk Services (ACRS), a complimentary suite of services that will enable its primary cyber insureds to proactively tackle cybersecurity threats, from pre-incident to response and resilience. According to the announcement, this new offering ... Read the full article
Patricia Kocsondy to lead Beazley’s Global Cyber Digital Risks team
18th December 2023
Specialty insurer Beazley has appointed Patricia Kocsondy as Head of Global Cyber Digital Risks, effective January 1, 2024. In her new role she will be responsible for setting the global product and distribution strategy for all of Beazley’s cyber business sub $250million, and ensure products and services are tailored to the ... Read the full article
Chubb enhances cyber offering with NetSPI partnership
6th December 2023
Property and casualty insurance company Chubb has announced the launch of its cyber protection partnership with NetSPI, a cybersecurity specialist. NetSPI is an expert in proactive security, aiming to strengthen its clients’ cyber-risk profile via enhanced attack surface management and penetration testing solutions. Through this collaboration, Chubb policyholders in the US and ... Read the full article
DeRISK new freemium version aims to help companies quickly evaluate their cyber risk posture
5th December 2023
DeNexus Inc, a provider of second-generation cyber risk quantification and management services, has expanded access to its cyber tool with the launch of DeRISK freemium, a complimentary version of its DeRISK AI-powered Cyber Risk Assessment platform. DeRISK is a cyber risk quantification tool designed to help industrial organisations, underwriters, reinsurers and ... Read the full article
MAPFRE and Cyberwrite partner to promote cyber protection for SMEs with AI
29th November 2023
MAPFRE and technology provider Cyberwrite have joined forces to help the insurer's clients reduce the risk of cyber-attacks with AI. The Spanish firm explained that Cyberwrite will provide it with a cyber insurance risk platform for SME companies, with the aim of having a more accurate knowledge of the risk at ... Read the full article
CFC extends cyber cover for professional services firms
27th November 2023
Specialist insurance provider, CFC, is now offering small and medium-sized enterprises add-on cyber coverage to their packaged insurance policies for professional services businesses. The insurer is offering broad cybercrime coverage, as well as giving SMEs access to proactive cyberattack prevention services and incident response capabilities. “Extending the current cyber add-on with new ... Read the full article
Geneva Association emphasises need for partnerships to address cyber insurance gaps
16th November 2023
The Geneva Association has released a report warning that the increasing frequency of cyberattacks, coupled with geopolitical tensions, is exposing significant gaps in cyber insurance coverage. The report reveals a 38% surge in cyberattacks globally in 2022 compared to the previous year, underscoring the need for innovative solutions to address the ... Read the full article
Howden names Jean Bayon de La Tour as International Head of Cyber
16th November 2023
In a strategic move to bolster its position in the face of escalating cyber threats, Howden, the global insurance group, has appointed Jean Bayon de La Tour as the International Head of Cyber, effective immediately. This appointment marks a significant milestone in Howden's initiative to attract top-tier broking talent, aligning with ... Read the full article
Cyber insurance market attractive despite ransomware uptick: JP Morgan
13th November 2023
Despite ransomware frequency picking up following a slowdown in 2022, analysts at JP Morgan still see the cyber insurance market as an "attractive area with strong profitability and good exposure growth potential in the coming years." Citing data released by Aon, JP Morgan said that ransomware attacks picked up 176% in ... Read the full article
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