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CSC partners with cyber risk solutions NetDiligence

15th February 2024

Security and threat intelligence provider CSC has partnered with NetDiligence, a specialist in cyber risk solutions, to help mitigate cyber risks and support the cyber insurance ecosystem. With this agreement, CSC is now an available vendor to cyber insurance carriers, brokers, and clients on NetDiligence’s eRiskHub under the newly developed “pre-breach” ... Read the full article

Cyber insurance premiums set to surge, U.S. businesses bear majority: Triple-I

12th February 2024

In accordance with the Insurance Information Institute's (Triple-I) latest Issues Brief, global direct written premiums for cyber insurance are projected to escalate to $23 billion by 2025. U.S. enterprises are anticipated to contribute approximately 56% to this total, the report noted. The surge is attributed to two primary factors outlined in Triple-I's ... Read the full article

Descartes launches cyber risk parametric solution in France

1st February 2024

Insurtech Descartes has announced the launch of Cyber Shutdown Cover, a parametric solution dedicated to cyber risk in France. This new solution demonstrates the firm's ambition to gradually extend its scope to emerging risks beyond just natural hazards. "Our research team - which is constantly expanding - is also working on other ... Read the full article

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

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