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Cyberattacks on MGM and Caesars send ripples through industries: Guy Carpenter

21st September 2023

The recent cyberattacks on gaming and hospitality giants MGM Resorts International and Caesars Entertainment have sent shockwaves through the cybersecurity and insurance industries. Guy Carpenter's Cyber Center of Excellence has issued a Cyber Event Analysis briefing shedding light on these incidents and their implications. One of the key takeaways from the analysis ... Read the full article

Trium Cyber announces opening of London office

20th September 2023

US-based Trium Cyber, a Lloyd’s of London cyber specialist, has announced the opening of its London office to write coverage for clients based outside of the US. Trium Cyber’s London office will be headed by Amie Watson as Head of International Underwriting. The new office will be writing excess layer direct ... Read the full article

Corvus Insurance expands cyber partnership with Travelers

20th September 2023

Corvus Insurance, an AI-powered cyber specialty insurer, has announced it has expanded its relationship with Travelers, a personal, business and specialty insurer. Through this partnership Travelers will serve as a capacity provider for Corvus products in the United States, starting October 1, 2023. In 2022, the two companies announced a similar ... Read the full article

There is enough data to create models and insure cyber risks: Russell Group

20th September 2023

With cyber being one of the top emerging risks for the re/insurance industry, some believe there are still many challenges to overcome, one of them being the creation of models to make it insurable, as it is argued there is not enough data yet to support them. Data and analytics firm ... Read the full article

QBE launches cyber offering in Middle East, hires Marsh’s Sarah Hamlat to lead

18th September 2023

Primary insurer QBE has announced that it has launched a cyber offering in the Middle East as part of its global cyber growth strategy. According to the firm, the new offering forms part of QBE’s International Markets portfolio. At the same time, QBE has appointed Sarah Hamlat as Senior Cyber Underwriter to ... Read the full article

AXA XL names Anthony Dagostino as Global Chief Cyber Underwriting Officer

14th September 2023

AXA XL, a prominent global insurance and reinsurance firm, has announced the appointment of Anthony Dagostino as the Global Chief Cyber Underwriting Officer for Commercial Lines. Dagostino, a seasoned professional with over 20 years of experience in the cyber insurance industry, will be based in New York and will report directly ... Read the full article

Cowbell and Zywave partner to expand cyber insurance access for SMEs

14th September 2023

Cowbell, a prominent provider of cyber insurance tailored for small- and medium-sized enterprises (SMEs), has announced a strategic partnership with Zywave, a leading insurtech solutions provider. This groundbreaking collaboration is facilitated by Herald, a digital infrastructure provider connecting software developers to commercial insurance carriers through a unified API. It leverages Cowbell's cutting-edge ... Read the full article

reThought Flood acquires CyberBoxer and secures $1m investment

14th September 2023

reThought Flood, a technology-centric underwriting agency specialising in US flood risk, has unveiled two significant developments poised to strengthen its position in the insurance industry. In a strategic move, reThought has finalised an agreement to acquire CyberBoxer, a prominent insurTech company renowned for its expertise in data science, modeling, artificial intelligence ... Read the full article

Arch launches proactive cyber insurance solution, Arch CyPro

13th September 2023

Arch Insurance has announced the launch of Arch CyPro, a "pioneering cyber insurance solution designed to proactively safeguard businesses in an environment of rapidly evolving cyber threats." According to the firm, Arch CyPro is powered by the Arch Cyber Risk Engineering Team (ACRE), a specialist cyber team integrated into every stage ... Read the full article

Guy Carpenter & Marsh McLennan report debunks cyber-stock market correlation fears for ILS investors

13th September 2023

In a collaborative effort, Guy Carpenter and Marsh McLennan's Cyber Risk Intelligence Center have released a comprehensive report addressing concerns by insurance-linked securities (ILS) investors regarding the potential correlation between major cyber events and the performance of the stock market. Titled "Double Whammy? Examining the Correlation Between Major Cyber Events and ... Read the full article

Envelop Risk launches Cyber Partnership Platforms

12th September 2023

Envelop Risk, the data-driven cyber (re)insurance and analytics specialist, has launched its Cyber Partnership Platforms - a programme for cedents wishing to either enter the cyber risk market or expand their existing participation. Envelop explained the initiative is designed to enable cedents to "grasp the opportunity cyber presents in a controlled, ... Read the full article

Trium Cyber names Joseph Dumas as Head of Risk and Analytics

12th September 2023

Trium Cyber, the renowned cyber insurance specialist affiliated with Lloyd's of London, has announced the appointment of Joseph Dumas as the Head of Risk and Analytics for its US-based services company. This significant addition to the team was confirmed by CEO Josh Ladeau, who expressed the company's commitment to providing top-tier ... Read the full article

Cyber insurance is yet to evolve to the same levels as property cat: Swiss Re

12th September 2023

During Swiss Re's press briefing at RVS Monte Carlo 2023, Gianfranco Lot, Swiss Re's Chief Underwriting Officer, Property & Casualty Reinsurance, explained that cyber insurance is yet to evolve to the same levels as property cat. Within their property cat line, the reinsurance giant uses models that allows them to understand ... Read the full article

Moody’s RMS launches Cyber Industry Steering Group

12th September 2023

Moody’s RMS has announced the launch of its Cyber Industry Steering Group to develop industry initiatives that respond to the growth of the global cyber insurance market. According to Moody's RMS, leading market participants Munich Re and Gallagher Re, and global cyber risk management leader Bitsight have joined the steering group, ... Read the full article

Reinsurance pricing “should be increased further for cyber”: S&P Global at RVS 2023

11th September 2023

Speaking at S&P Global Ratings' briefing at RVS Monte Carlo 2023, Johannes Bender director and lead analyst stated that "reinsurance pricing should be increased further for cyber." During the briefing he addressed how cyber is one of the fastest growing lines of business within the industry, highlighting the $12 billion in ... Read the full article