You searched for cyber attack - Page 35 of 70

Munich Re’s HSB warns crypto adoption can raise SME cyber risk

6th February 2020

HSB, part of reinsurance giant Munich Re, has underlined the risks of cryptocurrency after a survey found at least one-third of US small and medium-sized businesses accept it as a payment method. The survey, conducted in conjunction with Zogby Analytics, found that 36% of SMEs accepted cryptocurrency, while 59% of those ... Read the full article

Aon enhances cyber services with Cytelligence acquisition

4th February 2020

Re/insurance broker Aon has expanded its cyber offering with the acquisition of Cytelligence Inc, a Canadian-based cyber security firm that provides incident response advisory, digital forensic expertise, and security consulting and training services. The acquisition will help Aon expand its current coverages within the cyber market at a time when cyber ... Read the full article

US insurers hiking cyber premiums as ransomware costs rise

3rd February 2020

US insurers are hiking cyber premiums by as much as 25% in some cases following a surge of costly ransomware claims, according to reports from Reuters. The rate increases come as many insurers look to reduce their exposure to these forms of cyber attacks, which are becoming increasingly sophisticated and dangerous. Ransomware ... Read the full article

CyberCube CEO calls for public-private collaboration on cyber standards

27th January 2020

Pascal Millaire, Chief Executive Officer (CEO) of cyber risk analytics firm CyberCube, has argued that re/insurers must work closely with governments to help enforce minimum security standards as the world continues to grow its cyber vulnerabilities. Speaking alongside the World Economic Forum annual meeting in Davos, Millaire said that the re/insurance ... Read the full article

Bermuda market increases cyber premiums threefold in 2018

30th December 2019

A new report from the Bermuda Monetary Authority (BMA) shows that commercial insurers in Bermuda increased their cyber premiums almost threefold in 2018, with $1.5 billion of net written premium reported. This compared with just $557 million in 2017, with premium coming from over 100,000 policies, versus 31,000 in 2017. The BMA ... Read the full article

Analysts expect double-digit cyber premium growth

24th December 2019

For at least the next three to five years, equity analysts at Goldman Sachs expect double-digit compound annual growth rate (CAGR) from current global cyber premium base of less than $5 billion of global commercial premiums. Currently, cyber premiums account for less than 1% of the international commercial insurance market, and ... Read the full article

The Hartford expands cyber services via new partnerships

19th December 2019

Property and casualty insurer The Hartford has expanded its range of cyber services with two new partnerships that will help detect digital risk exposure on the dark web and safeguard business infrastructure. Firstly, Terbium Labs will provide The Hartford’s customers with a preview of exposure across the dark web, allowing them ... Read the full article

AXA XL partners with insurtech Slice, Microsoft on cyber solution

13th December 2019

AXA XL, the property and casualty and specialty risk unit of AXA, is partnering with cloud-based insurtech firm Slice Labs to help improve the cyber resilience of Microsoft 365 Business, Office 365 Business Premium and Office 365 Business customers. The collaboration, aimed at servicing small to medium sized businesses, will give ... Read the full article

CFC’s cyber risk heat map looks to assist brokers

27th November 2019

Specialist insurer CFC has announced the launch of a free tool designed to help brokers sell cyber insurance. The new cyber risk heat map has been built from data that relates to 2,500 cyber claims that CFC has dealt with over the past 24 months, as well as trends that the ... Read the full article

The industry is starting to understand an infant cyber market: Guenther, Hacker

21st November 2019

Still in its infancy, the global cyber risk market continues to grapple with data and modelling challenges, but increasingly, re/insurers are becoming aware of a need for new and innovative approaches. This is according to the owner and founder of PeriStrat GmbH, Hans-Joachim Guenther and Peter Hacker, a globally recognized cyber ... Read the full article

Brit launches e-trading Cyber Portal

18th November 2019

Specialty re/insurer Brit has announced the launch of its e-trading portal for cyber risk. Launching in the UK and the US, the online platform will target SMEs in both regions and is designed to give brokers an agile, user-friendly outlet for Brit’s cyber underwriting capabilities, allowing them to quote and bind ... Read the full article

Ransomware losses driving cyber rates up: Willis Towers Watson

15th November 2019

Primary and excess cyber renewals are now averaging premium increases in the 5-10% range, driven by an explosion of ransomware losses during the second half of 2019, according to re/insurance broker Willis Towers Watson (WTW). Analysts noted that the uptick in losses has been prompting carriers to re-evaluate their positions in ... Read the full article

Quantum computing a potential cyber risk for re/insurers: Fitch

12th November 2019

The day when quantum computing power can be applied to real world scenarios is fast approaching, posing a number of important questions around the parameters of cyber risk and security of data encryption. Fitch Ratings analysts note how quantum computers - estimated to run 100 million times faster than current technology ... Read the full article

IFTRIP highlights divergent views on cyber terrorism across commercial market

11th November 2019

Further collaboration and discussion is needed around the response to, and definition of, cyber terrorism, while more broadly, divergent views around the insurability of cyber risk remains across the commercial market. This is according to delegates that attended the 2019 International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) conference, held in ... Read the full article

Cyber market not as profitable as it appears: CyberCube CEO

8th November 2019

CyberCube's Pascal Millaire believes we’ve only seen the tip of the iceberg when it comes to cyber catastrophe aggregation in the insurance industry and that, once you start layering on the appropriate loads onto coverages, the market is not as profitable as it appears. “This is a market that’s expected to ... Read the full article