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Vantage launches U.S. primary cyber insurance

11th June 2024

Vantage Group Holdings, a specialty insurer and reinsurer, has announced that its U.S. subsidiaries will now offer primary cyber insurance, providing up to $10 million in coverage. This new cyber insurance offering supports the company's continued portfolio growth and enhances its insurance capabilities in the U.S. and Bermuda for brokers and ... Read the full article

The Baldwin Group unveils digital placement platform for cyber

7th June 2024

The Baldwin Group has unveiled Cyber Navigator – its Application Program Interface (API)-connected cyber insurance placement platform. According to the announcement, business insurance buyers will be able to complete a digital application to receive quotes within minutes. As well as this, the platform also provides a competitive cost analysis and comparison of terms ... Read the full article

VIG establishes EU-funded cyber security programme to combat rising threats

7th June 2024

Vienna Insurance Group (VIG) has launched a comprehensive Cyber Defence Center programme (CDC) to enhance protection against the growing threat of cyberattacks. This initiative receives financial support from the European Union through the European Cybersecurity Competence Centre. The risk of cyber-attacks on companies continues to rise, particularly with new threats driven by ... Read the full article

CFC launches upgraded cyber risk heat map focused on key exposures

6th June 2024

CFC, a specialist insurance provider, has updated its cyber risk heat map to offer more detailed insights into key exposures across various industry sectors such as construction, education, healthcare, transport, and logistics. Drawing from CFCs own claims data and external trends observed by its incident response team, this user-friendly tool presents ... Read the full article

NHS cyber attack underscores ongoing ransomware threat to healthcare sector

6th June 2024

Paul Gooch, Head of Large Account Cyber at Tokio Marine Kiln, has advised companies to adopt the mindset 'not if, but when' in their approach to cybersecurity, following the attack on hospitals in London targeting NHS IT firm Synnovis. Reinsurance News understands that the attacks have affected the Royal Brompton, Harefield, ... Read the full article

Cyber risk viewed as top concern by mid-market leaders: Marsh McLennan Agency

5th June 2024

Mid-market business leaders in the US view cyber, economic, and regulatory risks as the biggest threats to their operations in 2024, according to a new report by Marsh McLennan Agency. The report reveals that 75% of businesses are highly concerned about cybersecurity and data privacy risks, partly due to their increasing ... Read the full article

At-Bay expands Cyber & Tech E&O coverage to businesses with up to $5bn in revenue

3rd June 2024

Cyber insurance provider At-Bay has expanded its Cyber and Tech E&O Excess & Surplus coverage to businesses with up to $5 billion in revenue, with aggregate limits up to $10 million, in addition to other coverage enhancements. The firm is enhancing its Cyber and Tech E&O surplus capabilities in order to ... Read the full article

Cyber underwriter Corvus expands coverage limits and services

30th May 2024

Corvus Insurance has revealed the expansion of its underwriting appetite and its cyber services for policyholders. For its Smart Cyber Insurance product, which covers primary and excess policies, Corvus has now reportedly doubled its limit offering to $10 million for aggregate covered losses and raised the annual revenue to $5 billion ... Read the full article

Cyber insurance market remains stable due to robust cybersecurity: McGriff

29th May 2024

McGriff, a US retail insurance broker, reports that cyber insurance market rates in 2024 remain stable as businesses strengthen their cybersecurity measures. Businesses opting for higher retention levels or deductibles are also benefiting from premium savings in their programs. However, McGriff notes, “Custodians of large volumes of records (personal health information, personal ... Read the full article

Cyber facility Incyde Risk launches, powered by Safe Security, led by Mosaic & other Lloyd’s Syndicates

28th May 2024

Mosaic 1609 and other participating Lloyd's syndicates have partnered with Safe Security to streamline cyber insurance solutions through newly launched facility Incyde Risk. According to the announcement, the new facility will provide up to $25mn in capacity on a primary and first-excess basis, with a lead-line by Mosaic 1609, and supported ... Read the full article

Lockton appoints Brendan Fitzpatrick as new VP, Cyber Risk Consultant

24th May 2024

Lockton, an independent insurance broker, has appointed Brendan Fitzpatrick as Vice President (VP), Cyber Risk Consultant, to strengthen its Cyber & Technology Practice. In his new role, Fitzpatrick will assist Lockton's clients in understanding and enhancing their risk posture amidst the ever-evolving cyber and privacy threat landscape. Michelle Faylo, U.S. Cyber & ... Read the full article

Zurich Insurance and insurtech BOXX launch personal cyber product

21st May 2024

Zurich Insurance in Switzerland and cyber insurtech BOXX have partnered to introduce a breakthrough personal cyber product designed to help individuals and families better predict and prevent potential scams and digital threats. This collaboration was born in response to the critical need for comprehensive protection against digital threats, BOXX explains. The new ... Read the full article

Howden launches SME cyber insurance platform to widen access to protection

21st May 2024

Howden, the global insurance intermediary group, has launched a unique cyber insurance platform for SMEs that enables easier access cyber insurance by simplifying the process of purchasing cover. The platform is designed for businesses with revenues of up to $250 million, and allows cyber insurance to be purchased in four simple ... Read the full article

There is plenty more to come for the Cyber ILS market: Norris, Gallagher Securities

20th May 2024

With Beazley securing an additional $160 million of reinsurance with its second 144A cyber catastrophe bond, PoleStar Re Ltd. (Series 2024-2), as we reported last Friday, Theo Norris, Head of Cyber ILS, Gallagher Securities, has said that there is "plenty more to come for the Cyber ILS market." Gallagher ... Read the full article

HITRUST and Trium Cyber introduce exclusive cyber insurance

17th May 2024

Trium Cyber announces its partnership with HITRUST. This collaboration introduces an exclusive cyber insurance product available solely to HITRUST-certified customers, marking a new benchmark in aligning information risk assurances with insurance underwriting. The insurance product, initially tailored for HITRUST r2 certified entities, aims to tackle the escalating complexities and disparities within ... Read the full article