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Your search for “cyber insurance”
Equifax to catalyse cyber insurance development: Lloyd’s CEO Inga Beale
19th September 2017
Consumer credit reporting agency Equifax has become one of the latest victims of large-scale cyber hacking after the firm reported a data breach had exposed personal information of 143 million Americans and up to 400,000 UK customers earlier this month. The firm is undergoing a Federal Trade Commission investigation of the ... Read the full article
Cyber insurance rates decline on capacity increase
24th August 2017
Cyber insurance rates and prices in the United States declined for the second consecutive quarter in Q2 2017, as the increasing availability of capacity targeting cyber liability underwriting influences the market. According to the latest quarterly look at global insurance rates by broker Marsh, the cyber risk underwriting segment has just ... Read the full article
Korean government to back cyber insurance uptake
5th July 2017
The Korean government has launched a research initiative with the Consortium of Computer Emergency Response Team, to boost the domestic cyber insurance market. The Korean Ministry of Science, ICT & Future Planning's new cyber-smart policies could include incentives for policyholders that make use of both cyber insurance and information security service providers. On the ... Read the full article
No cyber insurance surge following WannaCry: Research
3rd July 2017
The recent ransomware cyber attack named WannaCry has not stimulated much of an uptick in demand for cyber insurance coverage, according to research carried out among brokers. The survey of 250 UK insurance brokerages shows that after the WannaCry cyber attack there has been little increase at all in the number ... Read the full article
U.S. cyber insurance pays off despite high loss ratios in 2016: Aon Benfield
11th May 2017
Reinsurance broker Aon Benfield's cyber insurance update for 2016 showed U.S. cyber insurance as profitable despite it being a line of business with above average loss ratios. With cyber being the second top rated business risk throughout Europe and the U.S., the report shows insurers and reinsurers have made progress in leaps ... Read the full article
Willis Towers Watson to offer airline cyber insurance solutions
7th April 2017
Willis has moved deeper into cyber risk solutions with the introduction of CyFly - an insurance product that expands business interruption cover to include a wider range of airline cyber exposure associated costs. Willis’ recent industry risk index identified failure of critical IT systems as the biggest risk facing the global aviation ... Read the full article
Endurance appoints cyber insurance product leader
24th March 2017
Bermuda-based insurance and reinsurance group Endurance Specialty Holdings Ltd. has named Brad Gow as its cyber insurance product leader. Gow has been with Endurance since March 2011, as a Senior Vice President with product responsibilities for the firm's Endurance Pro professional liability and cyber risk insurance businesses. As Global Cyber Product Leader for Endurance ... Read the full article
NSF aims to enhance terrorism and cyber risk insurance modelling
29th April 2024
The U.S. National Science Foundation (NSF) aims to catalyse research in areas that enhance the insurance sector's capacity to model and underwrite terrorism and catastrophic cyber risks. To achieve this goal, the NSF has issued a Dear Colleague Letter (DCL) to the Industry-University Cooperative Research Center (IUCRC) program. This DCL is jointly ... Read the full article
Marsh unveils cyber group captive for clients seeking more insurance stability
25th March 2024
Marsh, an insurance broker, risk advisor and business of Marsh McLennan, has unveiled Edgware Re Ltd., a group captive insurance company that has been created for organisations "seeking more control and stability in their cyber insurance programs." Based in Bermuda, Edgware Re is a cyber-only group captive that will only transact ... Read the full article
Insurance industry must be proactive as GenAI reshapes cyber landscape: Lloyd’s
12th March 2024
The impact of Generative Artificial Intelligence (GenAI) technology on the cyber landscape is expected to increase the frequency, severity, and diversity of attacks, and as the threats evolve, it's imperative that the insurance industry takes proactive steps, according to Lloyd's. A new report from Lloyd's, the world's oldest insurance and reinsurance ... Read the full article
Great American Insurance Group adds Laura A. True to Cyber Risk Division
14th February 2024
Property and casualty insurance, Great American Insurance Group has announced the appointment of Laura A. True as Divisional Vice President of its Cyber Risk Division. In her new role, based in Hartford, Connecticut, True will lead a specialty underwriting team focusing on cyber risk and technology errors and omissions insurance for ... Read the full article
Giv Kahrom and Alex Stubbs join Swiss Re’s cyber reinsurance team
5th February 2024
Swiss Re has announced two new hires within its cyber reinsurance team, naming Giv Kahrom as Head of Cyber Asia, and Alex Stubbs as Senior Cyber Underwriter for the UK market. Kahrom took on the position as Head of Cyber Asia in January and is based in Singapore, while Stubbs is ... Read the full article
Guy Carpenter launches new cyber reinsurance product, CatStop+
31st January 2024
Guy Carpenter, a global risk and reinsurance specialist and business of Marsh McLennan, has launched its new cyber reinsurance product, CatStop+, a "first-of-its-kind" market-tested structure designed to address the volatility of cyber risk. According to Guy Carpenter, CatStop+ helps solve a range of issues that cyber (re)insurers face, "striking a ... 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
Envelop Risk launches dedicated cyber reinsurance Lloyd’s vehicle with Apollo
22nd January 2024
Cyber re/insurance and analytics specialist Envelop Risk has launched Envelop SPA 1925, a dedicated cyber reinsurance Special Purpose Arrangement (SPA) at Lloyd’s, in partnership with Apollo, through its Strategic Partner Syndicates business and Apollo Syndicate 1971. The SPA officially launched on the 1st of January 2024 with Chris Baddeley taking the ... Read the full article