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Your search for “cyber”
Chaucer names AXA XL’s Tuggey as Head of Cyber
1st November 2022
Global specialty insurer and reinsurer and part of China Re, Chaucer, has named Piers Tuggey, previously of AXA XL, as its new Head of Cyber. Tuggey spent four years with AXA XL, most recently serving as the company's Head of Cyber. Prior to the merger with AXA, Tuggey worked at XL ... Read the full article
Ransomware remains top cyber risk for organisations globally, says Allianz
1st November 2022
According to an Allianz Global Corporate & Specialty cyber report, ransomware remains a top cyber risk for organisations globally, while the threat of state-sponsored cyber attacks grows. There was a record 623 million attacks in 2021, which was double that of 2020, says Allianz. It also notes that despite the frequency reducing ... Read the full article
Advisen-Zurich survey reports cyber resilience uptake, though concerns remain
31st October 2022
The annual Information Security and Cyber Risk Management study from Zurich North America and Advisen indicates that 86% of respondents now have cyber insurance, up 3% from 2021 and the highest percentage in the history of the survey, though increasing premiums and restrictions for cyber coverage have created frustration for ... Read the full article
Cyber insurers to benefit from SentinelOne’s new risk management app
31st October 2022
SentinelOne, an autonomous cybersecurity platform company, has announced the addition of a new app for cyber insurers' risk management in its Singularity Marketplace. For organisations, the WatchTower Vital Signs Report app communicates an accurate profile of cyber security posture and controls to cyber insurers, streamlining the process of obtaining cyber insurance ... Read the full article
BitSight & MMC study correlates cyber ratings and security incidents
26th October 2022
BitSight has released results from an independent study which found fourteen BitSight analytics, including the BitSight Security Rating, and thirteen BitSight risk vectors, to be correlated with cybersecurity incidents. The study was conducted by the Marsh McLennan Cyber Risk Analytics Center, which brings together the cyber risk data and analytics expertise ... Read the full article
CyberCube launches Exposure Databases to improve cyber modeling
26th October 2022
CyberCube has announced that it has launched the world’s first set of detailed Exposure Databases to enable re/insurers and brokers to perform a wide range of benchmarking, sensitivity, and real-time analyses for cyber risks. The Exposure Databases provide a foundation for cyber risk model and include CyberCube’s Economic Exposure Database (EED) ... Read the full article
Munich Re to increase cyber cover prices in Germany & Europe
21st October 2022
According to Claudia Hasse, Chief Executive Manager at Munich Re, given the accumulation potential the firm sees in cyber re/insurance, it plans to increase cover prices in Germany and Europe. Hasse, who is responsible for Non-Life business in Germany, Cyber business in Europe and Latin America, and the German Pharmapool, noted ... Read the full article
Businesses may be overconfident about resilience to cyber threats: Beazley
18th October 2022
According to a recent Risk & Resilience research report from Beazley, there is a "worrying" degree of complacency around active cyber risk management and maintaining resilience to cyber threats, with over 41% of UK and US business leaders feeling "very prepared" to meet the cyber threat, which although down marginally ... Read the full article
Lockton Re appoints Oliver Brew as Cyber Practice Leader, London
18th October 2022
Global insurance broker Lockton’s dedicated reinsurance division, Lockton Re, has appointed Oliver Brew in a new role as Cyber Practice Leader in London. Brew brings more than 20 years of industry experience towards the role. He joins from CyberCube where he most recently served as Head of Client Success as part ... Read the full article
Bank of England survey warns of cyber threat to UK financial system
13th October 2022
The risk most cited as a threat to the UK’s financial system is a cyberattack, according to the Bank of England’s Systemic Risk Survey. According to the bank, nearly three-quarters (74%) cited a cyberattack when asked to list the five risks most likely to have the greatest impact. The survey also found ... Read the full article
Cyber cover to become ubiquitous as demand grows: GILC
12th October 2022
In a new report, Global Insurance Law Connect (GILC) predicts that cyber cover will become as ubiquitous as public liability or professional indemnity insurance as the level of threat continues to amplify globally. It adds that while the increased demand has led to the growth of capacity in the market, the ... Read the full article
Quod Orbis & Liberty Specialty collaborate to study future of cyber insurance
11th October 2022
Quod Orbis and Liberty Specialty Markets (LSM) have released a white paper report exploring the prospective future of cyber insurance, alongside the role data can play to enhance the understanding of risk. According to the report, global cyber insurance premiums totalled $8bn in 2021, and are growing rapidly, with one estimate ... Read the full article
Probitas 1491 hires Ezeugo Aguta as new head of cyber strategy and innovation
11th October 2022
Probitas 1492 has hired Ezeugo Aguta to be its new head of cyber strategy and innovation. The firm said in a statement that Aguta will spearhead the development of the firm’s technical capabilities. This will, said the company, be accomplished through the establishment of Probitas Labs. Probitas Labs focus on three main ... Read the full article
DeNexus launches new version of cyber risk platform
10th October 2022
DeNexus, a provider of second-generation cyber risk modelling for industrial organisations, reinsurers and investors in insurance-linked securities (ILS), has announced the launch of the new version of its data-driven cyber risk platform aimed to better quantify and manage risks associated with cyber breaches. According to the announcement, DeRISK 5.0 offers a ... Read the full article
Relay announces partnership with CyberCube
7th October 2022
Relay Platform, a technology solutions provider enabling the digital transformation of commercial insurance placements, has partnered with CyberCube, a cyber risks analytics provider, on the cyber quoting experience. This new partnership aims to enable brokers and agents who use Relay to gain access to the CyberCube cyber insurance report directly within ... Read the full article
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