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Symenouh joins Arch Insurance as Senior Cyber Underwriter
23rd December 2024
Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has appointed Ezechiel Symenouh as a Senior Cyber Underwriter, based in Paris, effective immediately. Symenouh joins Arch Insurance (EU) dac (AIEU), which provides specialist property and casualty insurance solutions within the European Union. The AIEU cyber division provides standalone and combined Cyber ... Read the full article
US cyber insurance market enters into soft phase: Tokio Marine HCC
23rd December 2024
According to Tokio Marine HCC – Cyber & Professional Lines Group (CPLG), the US cyber insurance sector is now in a soft market period, due to premium rate changes dropping below zero in 2024. The firm recently published its 2024 Cyber Market report, which examines the evolving landscape of the US cyber ... Read the full article
Prevensure Re appoints Chandan Thakur as Divisional Director, Cyber & Financial Lines
20th December 2024
Prevensure Group, a provider of re/insurance broking, underwriting services, and bespoke risk management solutions, has announced the appointment of Chandan Thakur as Divisional Director – Cyber & Financial Lines for its Prevensure Re team. Prevensure Re is the reinsurance broking arm of Prevensure group, based in Dubai. The group recently stated, “With ... Read the full article
Reinsurers are leaning into the cyber market: JMP
18th December 2024
Analysts at JMP report that reinsurers are increasingly leaning into the cyber market, a move expected to drive better pricing, and terms and conditions for cedants at the January 1 renewals, building on trends observed at recent renewals. This assessment follows JMP's recent meetings with insurers, reinsurers, and brokers in London, ... Read the full article
CyberCube enters into multi-year partnership with Mathison Insurance
16th December 2024
CyberCube, a provider of cyber risk analytics for the insurance sector, has signed a multi-year partnership with Mathison Insurance Partners, in a move that will allow Mathison to deliver enhanced cyber risk solutions to its retail partners and clients. For those unaware, Mathison Insurance Partners, is a specialist wholesale brokerage based ... Read the full article
Alessandro Lezzi named Beazley’s Group Head of Cyber Risks
16th December 2024
Specialty insurer Beazley has appointed Alessandro Lezzi as Group Head of Cyber Risks, reporting to Paul Bantick, Group Chief Underwriting Officer, Beazley. Lezzi has reportedly worked in the re/insurance industry for over twenty years, both as an underwriter and broker. He joined Beazley in 2011 and has served as the firm's Head ... Read the full article
Cyber risk to intensify in 2025 as attackers switch tactics: Moody’s
12th December 2024
Cyber risk is set to intensify next year as attackers switch tactics in response to better corporate cyber defences, and as advances in artificial intelligence (AI) increase the volume and effectiveness of their strikes, says Moody's Ratings. According to Moody's 2025 cybersecurity outlook, ransomware attackers are expected to shift to targeting ... Read the full article
Closing the cyber protection gap with cat bonds: Geneva Association
12th December 2024
Financial innovations such as cyber catastrophe bonds could help bridge the cyber protection gap, according to a recent report by the Geneva Association. As businesses and societies become increasingly digital, cyber threats such as ransomware, data breaches, and IT outages have emerged as top concerns. Over the past decade, the cyber ... Read the full article
CFC expands Australian cyber team with appointment of Michael Lewis
12th December 2024
Specialist insurance provider CFC has announced the growth of its Australian-based cyber team with the addition of Michael Lewis. Starting in January 2025, Lewis will assume his new position at CFC. Previously, he spent two years at Emergence Insurance, where he served as a business development underwriter. He will be working ... Read the full article
CyberCube adds St. Andrews as new Broking Manager client to boost growth
11th December 2024
CyberCube, a provider of cyber risk analytics, has unveiled a new partnership with St. Andrews Insurance Brokers, the Canada-based retail brokerage to utilise CyberCube’s Broking Manager. According to the announcement, this partnership will allow St. Andrews to model businesses' potential cyber losses, allowing them to better protect their clients and gain ... Read the full article
UK business leaders struggle to recognise cyber risk as a financial threat: Resilience
6th December 2024
IT and financial leaders at the UK’s largest firms have a poor understanding of cyber risk as a financial risk, despite 74% of mid-to-large UK businesses experiencing cybercrime, according to a new survey by cyber risk solutions provider Resilience. The findings reveal a disconnect between what causes the greatest financial losses ... Read the full article
CyberCube partners with HUB International to strengthen cyber risk analytics for clients
5th December 2024
CyberCube, a provider of cyber risk analytics solutions, has announced a new partnership with HUB International (HUB), an insurance brokerage and financial services firm. Through this collaboration, HUB will harness CyberCube’s software and expertise to deliver advanced cyber risk insights to clients across North America. As part of the partnership, HUB will ... Read the full article
Re/insurers’ operations exposed to cyber threats, says S&P
5th December 2024
According to a new report by S&P Global, insurers and reinsurers are exposed to cyber threats, with the potential for a direct attack to impact their operations, potentially costing a significant portion of their average annual earnings. Re/insurers face various operational cyber risks, including IT system disruptions, outages of third-party IT ... Read the full article
Economic threats still overshadow climate and cyber risks for G20 business leaders
5th December 2024
Economic threats continue to overshadow climate and cyber risks as one of the top three near-term risks for business leaders in G20 countries, according to the Executive Opinion Survey, conducted by the World Economic Forum and released by Marsh McLennan and Zurich Insurance Group. While global economic conditions show signs of ... Read the full article
TMK appoints Furness-Smith as Cyber Underwriter in APAC
4th December 2024
Tokio Marine Kiln (TMK) has announced the appointment of Georgina Furness-Smith as Cyber Underwriter in APAC, a Singapore-based role. She will take up her role on 2 January. Furness-Smith is a cyber insurance specialist with over five years of underwriting experience. She is joining TMK from AXIS Capital, where she most recently ... Read the full article
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