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AXIS hires SCOR’s Simon Dejung as CUO, Global Cyber & Technology
5th March 2024
AXIS Capital Holdings Limited, the global specialty underwriter and provider of re/insurance solutions, has hired Simon Dejung as Chief Underwriting Officer, Global Cyber & Technology (GCT), effective immediately. In the role, he will be based in Zurich, Switzerland, reporting to Lori Bailey, Head of Global Cyber & Technology As CUO, GCT, Dejung ... Read the full article
Lockton Re appoints Brian Lewis to lead Cyber Practice in North America
5th March 2024
Lockton Re, the reinsurance arm of the privately held independent insurance broker, has appointed Brian Lewis as Senior Broker leading the Cyber Practice for North America, based in the firm's New York office. Lewis has deep expertise in cyber and has over two decades of insurance broking and underwriting experience. Most ... Read the full article
Blink Parametric and Buckler México partner for rollout of cyber solution to Ethics Data Analytics
1st March 2024
Insurtech Blink Parametric has partnered with cyber risk specialist Buckler México to support the rollout of its Blink Cyber solution to Ethics Data Analytics - a leader in risk management solutions in the region - to combat identity theft. Now available within the Ethics Cyber Security portfolio, Blink’s cyber solution is ... Read the full article
RT Specialty adds Cyber Liability to proprietary digital platform, RT Connector
29th February 2024
RT Specialty, the wholesale distribution division of Ryan Specialty, has announced that it has added Cyber Liability to its proprietary digital platform, RT Connector. The digital platform allows retail insurance agents to efficiently access multiple lines of coverage from a variety of carriers for their excess and surplus (E&S) small commercial ... Read the full article
Diversification within cyber ILS is possible, says CyberCube
29th February 2024
CyberCube’s analysis of all the 144A cyber catastrophe bonds issued to date shows that diversification within cyber as an asset class is possible. In a recent white paper titled "Digital Ties and Natural Divides: Correlation and Diversification in Cyber Catastrophe Bonds" - the firm addresses the concern amongst investors regarding the ... Read the full article
Munich Re CEO Wenning calls for government support amid rising cyber risks
27th February 2024
In a recent earnings call, Munich Re CEO Joachim Wenning highlighted the imperative need for governmental intervention in the face of escalating cybersecurity threats, shedding light on the limitations of private insurance in covering these risks. Wenning underscored the critical nature of cybersecurity, stating, "Cyber is not just important for us. ... Read the full article
Coalition report reveals rising cyber threats amidst business vulnerabilities
22nd February 2024
Coalition, an active cyber threat insurance provider, has released its Cyber Threat Index 2024, offering insights into cybersecurity trends from 2023 and emerging threats for 2024. The index projects a substantial 25% increase in common vulnerabilities and exposures (CVEs) for 2024, totalling 34,888 vulnerabilities. Tiago Henriques, Head of Research at Coalition, ... Read the full article
Beazley creates integrated cyber risk management company, Beazley Security
21st February 2024
Specialty insurer Beazley has announced the merger of its in-house Cyber Services team with its wholly owned cyber security company Lodestone, creating an integrated cyber risk management company, Beazley Security. Beazley explained that the new company integrates the risk management services provided as part of a cyber insurance policy with Lodestone’s ... Read the full article
Gallagher Re expects more cyber cat bonds in 2024
21st February 2024
Gallagher Re, a reinsurance broker, anticipates a surge in investments in cyber catastrophe bonds in 2024, following the successful launch of PoleStar Re Ltd. (Series 2024-1) in December 2023. PoleStar Re was the first full 144A cyber catastrophe bond for specialty re/insurer Beazley. Gallagher Securities’ served as the sole structuring ... Read the full article
Cennairus Cyber partners with Ascend to automate wholesale broker billing and payments
19th February 2024
Cennairus Cyber, a wholesale insurance brokerage specialising in cyber and technology errors and omissions insurance, has announced a partnership with Ascend, a financial operations automation platform. This collaboration is poised to streamline finance operations unique to wholesale insurance brokerages, optimising billing and payments processes while delivering unparalleled accuracy and efficiency. Abe Gibson, ... Read the full article
Verisk and BGF invest in KYND to advance cyber risk management
16th February 2024
UK-based KYND, a provider of cyber risk management solutions, has secured an undisclosed amount in funding from data and technology provider Verisk, and BGF, an existing backer and experienced growth capital investors in the UK. Andy Thomas and Melanie Hayes founded KYND in 2018. Since then, it has developed a cyber ... Read the full article
CyRisk launches Privacy Risk Insights Underwriting platform for cyber insurance industry
15th February 2024
CyRisk, an innovator in cyber risk management and data analytics, has introduced its latest solution, the Privacy Risk Insights Underwriting platform. Designed to meet the escalating demands of the cyber insurance sector amid a surge in privacy claims, this state-of-the-art tool leverages advanced artificial intelligence to provide unparalleled insights into privacy ... Read the full article
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
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
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