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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
WTW unveils primary cyber, tech E&O facility for international clients
12th February 2024
Global broking firm WTW, has announced that it has launched an International CyCore Facility (ICF) aimed at international clients headquartered outside of Great Britain and the United States, with revenues up to US$1 billion (or the equivalent currency). According to WTW, the ICF is a tailored solution which covers malicious acts, ... Read the full article
PERILS and CyberAcuView’s US Cyber Industry Loss Index gains traction
12th February 2024
PERILS, the Zurich-domiciled catastrophe insurance data provider and CyberAcuView, an independent US-domiciled cyber insurance data provider, have announced the use of their US Cyber Industry Loss Index in the first cyber insurance risk transactions. The Index is used to produce an index value to determine the payouts of the protection under ... Read the full article
Nirvana names Andrea García-Beltrán as Head of Cyber Europe
8th February 2024
Nirvana, a UK-based specialty MGA, has appointed Andrea García-Beltrán to the newly-created position of Head of Cyber Europe. García-Beltrán, a seasoned veteran in cyber insurance, will assume her role in March. She brings a wealth of experience, having served as Head of Cyber Underwriting at RSA until 2022, followed by a ... Read the full article
AIG adds former National Cyber Director John Inglis to Board
8th February 2024
The Board of Directors of global insurer American International Group, Inc. (AIG) has elected John Inglis to serve as an Independent Director, effective March 1st, 2024. Inglis is a former National Cyber Director. He was also an advisor to the President of the United States, Joe Biden on cybersecurity from 2021 ... Read the full article
Shannan Fort appointed International Cyber Product Leader, Marsh Specialty
8th February 2024
Insurance broker and risk advisor and business of Marsh McLennan, Marsh, has hired Shannan Fort as International Cyber Product Leader, Marsh Specialty, where she will report to Gregory Eskins, Global Cyber Insurance Center Leader, and Kelly Butler, UK Cyber Leader, Marsh Specialty. Fort's appointment is effective April 1, 2024, and she ... Read the full article
Cyber exposures pose risk to re/insurers’ financial strength, require careful management: AM Best
7th February 2024
AM Best has warned in a new report that a growing cyber book could present a "material risk to a re/insurer’s financial strength" if it is not carefully managed and appropriately monitored. According to the rating agency, cyber is a line with high levels of product risk requiring expertise and knowledge, ... 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
Jason Hart appointed Head of Proactive Cyber at CFC
5th February 2024
Specialist insurance provider, CFC, has hired Jason Hart as Head of Proactive Cyber, where he will be responsible for leading the continued development of CFC’s cyber threat analysis, vulnerability and threat detection service. Hart has over 20 years of experience in creating and developing information security offerings and services. In his most ... Read the full article
WTW launches cyber insurance solution for SMEs in North America
2nd February 2024
Global insurance broker WTW has launched a new cyber insurance solution tailored for small and medium-sized enterprises (SMEs) spanning industries across North America. This solution is tailored for businesses with annual revenues under $50 million, including start-ups and pre-revenue accounts. The firm states that this new cyber solution is crafted to ... Read the full article
Descartes launches cyber risk parametric solution in France
1st February 2024
Insurtech Descartes has announced the launch of Cyber Shutdown Cover, a parametric solution dedicated to cyber risk in France. This new solution demonstrates the firm's ambition to gradually extend its scope to emerging risks beyond just natural hazards. "Our research team - which is constantly expanding - is also working on other ... Read the full article
AXA XL names Michele Chia CUO for Cyber in the Americas
1st February 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has named Michele Chia the Chief Underwriting Officer for Cyber in the Americas. She will be based in New York and will take on her new role on February 12th 2024. In her new role, Chia will report to ... Read the full article