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Trium Cyber launches excess program in collaboration with Origami Risk

13th April 2023

Trium Cyber, a Lloyd’s services company providing cyber insurance, risk management, and claims adjudication services, has launched an excess cyber program powered by Origami Risk’s multi-tenant SaaS P&C insurance core solution suite. Through this collaboration, the firms aim to speed first phase of tech implementation in three months; primary cyber underwriting, ... Read the full article

Corvus and Core Specialty team up on Cyber and Tech E&O product

13th April 2023

Cyber underwriter Corvus has announced the launch of a new program with Core Specialty to support the expansion of the Excess Tech E&O and Cyber product with additional capacity. This program is Core Specialty’s first offering in the Cyber and Tech E&O market and also marks a step for Corvus in ... Read the full article

Marsh McLennan research links cybersecurity controls and reduced cyber risk

12th April 2023

Automated hardening techniques have the greatest ability to decrease the likelihood of a successful cyberattack, recent research by global brokerage Marsh McLennan has revealed. The broker’s report - titled Using data to prioritise cybersecurity investments - found that key cybersecurity controls commonly required by cyber insurers are linked to a reduced ... Read the full article

Astaara increases underwriting capacity, boosts cyber insurance limit to $25mn

6th April 2023

Guernsey-based integrated insurance services and risk management advisory business, Astaara has increased its underwriting capacity and insurance limit from $12.5 million in 2020, to $25 million. Launched in 2020, Astaara's cyber insurance covers ports and terminals, as well as ships, shipowners and ship managers. The insurance is led by A-rated cyber ... Read the full article

DeNexus launches Version 5.3 of its cyber risk platform

5th April 2023

DeNexus announces the launch of Version 5.3 of its DeRISK Platform to help improve cyber risk modelling capabilities for reinsurers and the insurance-linked securities (ILS) sectors. DeRISK 5.3 is described as an evidence-based, data-driven cyber risk quantification and management tool that aims to help the risk transfer community better understand, mitigate ... Read the full article

Aon Switzerland welcomes Manuel Pachalatko as Head of Cyber

5th April 2023

Aon, a leading broker, consulting and service provider, has announced the appointment of Manuel Pachlatko as Head of Cyber for Switzerland, to further strengthen the company’s cyber solutions in the country. In his new role, he will focus on the delivery of Aon’s holistic cyber solutions strategy and will continue to ... Read the full article

ISS ESG announces launch of US Cyber Risk Index

31st March 2023

ISS ESG, the sustainable investment arm of Institutional Shareholder Services Inc. (ISS), has announced the launch of its US Cyber Risk Index, which supports investors by seeking to identify and track companies with low or negligible expected relative exposure to cyber breaches, based on the ISS ESG Cyber Risk Score, ... Read the full article

Jennifer Wilson to lead Newfront’s Cyber practice

30th March 2023

Newfront, the tech-driven insurance brokerage firm, has announced the appointment of Jennifer Wilson as the new Head of Cyber. In her new Boston-based role, Wilson will lead cyber coverage negotiation and claims advocacy at Newfront. She will report to Deirdre Finn, Head of Executive Risk. She is joined by Michele Lepper, Jennifer ... Read the full article

BMS appoints Monica Tigleanu as divisional director for cyber strategy

29th March 2023

Specialist re/insurance broker BMS has appointed Monica Tigleanu as divisional director, cyber strategy. In the new role, Tigleanu is entrusted with future-proofing BMS' cyber strategy by developing innovative products tailored to the evolving cyber risk landscape. The firm states that she will leverage her global network to bring new capacity from various ... Read the full article

India’s Edme Services to acquire Aditya Insurance Brokers from parent and Infocyber

29th March 2023

The sale of the entire stake of Aditya Birla Insurance Brokers Limited (ABIBL) to Edme Services Private Limited has been approved by the Board of Directors of its parent, Aditya Birla Capital Limited (ABCL), subject to requisite approvals. Currently, ABCL along with its nominees hold a little more than 50% of ... Read the full article

Chat GPT & AI a growing concern for cyber insurance: Corvus’ Hedberg

24th March 2023

With the capabilities of Chat GPT and artificial intelligence (AI) continuing to advance, this technology is only going to get smarter and potentially more difficult to control as it can be used to facilitate security breaches and increase the scale of cyber-attacks, states Peter Hedberg, Vice President of Cyber Underwriting ... Read the full article

Cyber market cooling as more solutions needed for systemic risks: AM Best

24th March 2023

The hot cyber market is starting to cool due to a slower pace of rate increases and cutbacks in capacity. At the same time, as the market evolves, more solutions are needed to address the systemic risk it possesses, according to a recent report by AM Best. The COVID-19 pandemic shifted ... Read the full article

Great American promotes Shepherd to Divisional President, Cyber Risk

23rd March 2023

Great American Insurance Group has promoted Elizabeth M. Shepherd to Divisional President, Cyber Risk. Shepherd joined Great American in 2018 as a Divisional Senior Vice President, where she played a key role in consolidating the company’s cyber risk products and programs. Within the role, she oversees the firm’s cyber initiatives and existing ... Read the full article

Corvus expands cyber team in Frankfurt

23rd March 2023

Cyber specialist Corvus Insurance has announced that it has expanded its Frankfurt, Germany-based team by appointing cyber underwriters and a local head of cybersecurity services. The addition of these hires will provide support in meeting demand for Corvus’ Smart Cyber Insurance product that was recently launched in Germany and Austria iRead the full article

Coalition releases new method for modelling aggregate cyber risk

22nd March 2023

Cyber insurance provider Coalition has released its new Active Cyber Risk Model, a framework for understanding cyber risk aggregation that provides an ongoing view into organisations’ cyber risks and identifies preventive measures to protect against new threats. The Active Cyber Risk Model, which offers a more accurate picture of cyber risk ... Read the full article