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Bishopsgate hires Caroline Richardson to lead new cyber practice

6th April 2022

Bishopsgate has appointed Caroline Richardson to lead its new cyber practice, joining from Miller Insurance Services, where she worked on both retail and wholesale cyber placements and solutions for global corporate organisations and facilities and grew its international and UK business. Prior to Miller she worked as Associate Director of Aon ... Read the full article

Beazley hires Christian Taube as Head of Cyber, Intl.

4th April 2022

Specialist insurer Beazley has appointed Christian Taube as its new Head of Cyber Services – International, continuing the rapid expansion of its cyber team this year. Before joining Beazley, Taube was Chief Information Security Officer at Contentserv and, prior to that, he built the information security practice at DataGuard. Taube will be ... Read the full article

MSIG Singapore and Hong Kong to advance Financial Lines and Cyber strategy

1st April 2022

MSIG Insurance’s managing general agent partnership with DUAL Asia (DUAL) will end in June, with MSIG pressing ahead with its expansion strategy for its Financial Lines business through its multi-distribution network. In pursuing its expansion strategy, MSIG will be drawing upon its global financial capacity to underwrite Financial Lines risks and ... Read the full article

Lockton names Michelle Faylo as new US cyber and tech leader

31st March 2022

Lockton has named Michelle Faylo as its new US cyber and technology leader. The company said in the announcement that Faylo would lead Lockton's team of cyber specialists, delivering solutions to global businesses that face increasingly complex cyber risks. Devin Beresheim, executive vice president of specialty practices at Lockton, said: “Michelle is ... Read the full article

ICA calls for overhaul of cyber policy settings

30th March 2022

The Insurance Council of Australia (ICA) has argued that Australian businesses, insurers and government must work together to establish the settings for a sustainable cyber insurance market to underpin economic growth into the future. In a new report, the ICA highlights challenges to maintaining and developing a cyber insurance market to ... Read the full article

Cyber insurance in P&C industry grew by 22% in 2020: Fitch Ratings

25th March 2022

According to rating agency Fitch Ratings the Cybersecurity and Identity Theft Insurance Coverage Supplement reported that cyber insurance direct written premiums for the property & casualty (P&C) industry grew by 22% in 2020 to over $2.7 billion. Cyber insurance continues to be viewed as a growth market for P&C insurers, as ... Read the full article

Cowbell Cyber hires new CTO

24th March 2022

Cowbell Cyber has appointed Joshua Chan as its new CTO. Chan will be joining the firm from Zimperium, where he was previously that company’s vice president of engineering. He joins Kara Owens, who joined the company earlier this month from Markel to become Cowbell’s chief insurance officer. The company has ... Read the full article

Falvey Cargo launches new cyber coverage with Chaucer

18th March 2022

Falvey Cargo Underwriting has announced its brand new coverage protection – Cyber for Cargo. This new coverage will also see the company partnering with the leading speciality re/insurance company, Chaucer Group, to help bring this exclusive protection to Falvey clients. The company says that it recognises that cyber risk exposure is an ... Read the full article

Cowbell Cyber secures $100mn in capital

17th March 2022

Provider of cyber insurance for small and medium-sized enterprises, Cowbell Cyber, has secured $100 million in capital led by Anthemis Group with participation from Permira Funds, PruVen Capital, NYCA Partners, Viola Fintech and all existing investors. This latest financing will increase investment in data science, underwriting, risk engineering and claims management; ... Read the full article

Mosaic begins cyber underwriting team in Bermuda

15th March 2022

Mosaic is putting together a cybersecurity underwriting unit to be based in Bermuda. Citing a desire to align its global business strategy around what it calls a ‘fast-growing risk’, the insurer has moved George Cole, its cyber team underwriter, there from London. Cole will be one of a host of cyber ... Read the full article

Ariel Re picks up Portfolio Manager from CyberCube

15th March 2022

Ariel Re has decided to implement analytics platform Portfolio Manager into its organisation. The software, from CyberCube, is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams. Portfolio Manager stress tests portfolios of insurance and reinsurance risks against a range of systemic cyber-related ... Read the full article

AGCS promotes new regional head of cyber in North America

10th March 2022

Allianz Global Corporate & Specialty (AGCS) has promoted Tresa Stephens to region head of cyber for tech and media in North America. Stephens will begin her new role on 1 April and will be succeeding Thomas Kang. Joe Caruso, regional head of financial lines for north America, whom Stephens will be reporting ... Read the full article

ProExec partners with CyberCube’s Broking Manager

10th March 2022

ProExec, a part of RT Specialty, the wholesale broking division of Ryan Specialty Group, has partnered with CyberCube’s Broking Manager, the cyber risk analytics platform for insurance intermediaries, to further enable RT ProExec’s team to quantify and explain to its retailers and their clients the sources and potential financial impacts ... Read the full article

Russia-Ukraine war to increase cyber-related claims?

9th March 2022

The fallout from the war between Russia and Ukraine following the former’s invasion of the latter could increase cyber-related insurance and reinsurance claims within Europe and North America, according to a new note from DBRS Morningstar. The note says that considering the number of cyberattacks having ‘materially increased’ and the tightening ... Read the full article

CyberCube advises stress testing of portfolios with eastern European business

4th March 2022

CyberCube has released a new report saying that insurers and reinsurers should stress test their portfolios if they hold eastern European business, following the invasion of Ukraine by Russia. The company has released a new report called War in Ukraine creates fundamental shift in the cyber threat landscape that presents eight ... Read the full article