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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
Rose named Deputy Global Line Head, Cyber & Head of Cyber, Americas at SCOR
1st February 2024
Margaret Rose has been appointed to the role of Deputy Global Line Head - Cyber and Head of Cyber, Americas, at French reinsurer, SCOR. Based in New York, Rose has been with SCOR since 2016. When she joined the firm, she took on the role of Senior Underwriter within Professional Lines & ... Read the full article
Guy Carpenter launches new cyber reinsurance product, CatStop+
31st January 2024
Guy Carpenter, a global risk and reinsurance specialist and business of Marsh McLennan, has launched its new cyber reinsurance product, CatStop+, a "first-of-its-kind" market-tested structure designed to address the volatility of cyber risk. According to Guy Carpenter, CatStop+ helps solve a range of issues that cyber (re)insurers face, "striking a ... Read the full article
Arrival of cyber catastrophe bonds a ‘pivotal step’: Moody’s RMS video interview
30th January 2024
The introduction of the first 144A cyber catastrophe bond transactions in the final quarter of last year was an important step in the development and advancement of the broader cyber risk transfer market, according to Damini Mago and Alice Woolley of Moody's RMS. The latest video interview in ... Read the full article
Insurtech BOXX Insurance launches advanced cyber risk mitigation solution in partnership with AXA
30th January 2024
Insurtech firm BOXX Insurance, in partnership with AXA, has unveiled a cyber risk mitigation solution designed to offer vital support to small businesses. Recognising the pressing need for comprehensive protection against cyber threats for smaller enterprises, BOXX Insurance's user-friendly solution aims to assist businesses in predicting and preventing potential cyber attacks. Vishal ... Read the full article
Resilience expands Cyber Risk Solution to companies with revenues of up to $10bn
30th January 2024
Cyber risk management provider Resilience has expanded its underwriting authority to serve large global companies with up to $10 billion in annual revenues. Resilience explained that the expanded authorities come after a strong year of growth while achieving an "industry-leading loss ratio reflecting the success in defending clients from costly cyber ... Read the full article
Howden strengthens Cyber leadership team with new hires
26th January 2024
Global insurance group Howden, has added two new hires to its Cyber team, Kristoffer Haleen as Head of Cyber, Northern Europe and Manuel Perez Martín de la Hinojosa as Head of Cyber, Southern Europe and LATAM. Based in Sweden, Haleen joins Howden from WTW, where he served for close to nine ... Read the full article
DeNexus: Tackling cyber risk from the ground up
24th January 2024
Since its inception in 2019, DeNexus, the specialist provider of cyber risk quantification tools and software, continues to invest heavily to improve its technology and analytics, and with the sixth version of its DeRISK platform in the works and the receipt of a broker licence in Bermuda, the company sees ... Read the full article