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Chubb enhances cyber offering with NetSPI partnership
6th December 2023
Property and casualty insurance company Chubb has announced the launch of its cyber protection partnership with NetSPI, a cybersecurity specialist. NetSPI is an expert in proactive security, aiming to strengthen its clients’ cyber-risk profile via enhanced attack surface management and penetration testing solutions. Through this collaboration, Chubb policyholders in the US and ... Read the full article
DeRISK new freemium version aims to help companies quickly evaluate their cyber risk posture
5th December 2023
DeNexus Inc, a provider of second-generation cyber risk quantification and management services, has expanded access to its cyber tool with the launch of DeRISK freemium, a complimentary version of its DeRISK AI-powered Cyber Risk Assessment platform. DeRISK is a cyber risk quantification tool designed to help industrial organisations, underwriters, reinsurers and ... Read the full article
mShift partners with CyberCube to revolutionise cyber insurance analytics delivery
5th December 2023
Millennial Shift Technologies Inc. (mShift) has announced a strategic partnership with CyberCube, a leading cyber risk analytics platform. The collaboration aims to automate the delivery of cyber insurance analytics through an integrated solution that enhances workflow efficiency for insurance professionals while delivering an enriched client experience. mShift, a digital platform designed to ... Read the full article
Markel hires Isaac Meek to lead cyber underwriting for MENA region
4th December 2023
The insurance arm of Markel Group Inc., Markel, has appointed Isaac Meek as a Cyber Senior Underwriter to lead its cyber portfolio development in the Middle East and North Africa region. Meek will be based out of Markel's Dubai office, reporting to Max Robbie, Senior Executive Officer at Markel Dubai. Robbie commented ... Read the full article
For cyber to grow at Lloyd’s we must manage our potential risks: Patrick Tiernan
4th December 2023
Speaking at Lloyd's Q4 2023 Market Message, Patrick Tiernan, Chief of Markets, explained that cyber underwriting will remain a key clear focus class of growth for 2024. Tiernan stated that for 2024, plan GDP growth is shy of 20%, which remains on par with the growth that Lloyd's witnessed in 2023. He ... Read the full article
AXIS successfully closes market’s first 144A cyber catastrophe bond
29th November 2023
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, today announced the closing of the market’s first 144A cyber catastrophe bond, a $75 million Long Walk Reinsurance Ltd. transaction which provides the firm's subsidiaries with fully collateralized indemnity reinsurance for systemic cyber events on a per-occurrence basis. The $75 million of Series ... Read the full article
MAPFRE and Cyberwrite partner to promote cyber protection for SMEs with AI
29th November 2023
MAPFRE and technology provider Cyberwrite have joined forces to help the insurer's clients reduce the risk of cyber-attacks with AI. The Spanish firm explained that Cyberwrite will provide it with a cyber insurance risk platform for SME companies, with the aim of having a more accurate knowledge of the risk at ... Read the full article
Costero Brokers names Marsh SVP Olley as Cyber Divisional Director
28th November 2023
Costero Brokers, a privately held London-based brokerage, has announced the appointment of Jonathan Olley as Cyber Divisional Director, effective November 27, 2023. In his new role, Olley will focus on the growth of Costero's cyber offering, working with brokers and clients to place business in the London Market. He joins the company ... Read the full article
CFC extends cyber cover for professional services firms
27th November 2023
Specialist insurance provider, CFC, is now offering small and medium-sized enterprises add-on cyber coverage to their packaged insurance policies for professional services businesses. The insurer is offering broad cybercrime coverage, as well as giving SMEs access to proactive cyberattack prevention services and incident response capabilities. “Extending the current cyber add-on with new ... Read the full article
Howden unveils primary cyber & technology E&O facility with Lloyd’s
24th November 2023
Global broker Howden has announced that it has launched a new primary cyber and technology errors & omissions (E&O) facility. The facility has been developed in conjunction with the Lloyd’s Insurance Company According to the announcement, the product has been designed for a wide range of cyber and technology risks across 14 different ... Read the full article
Chubb ranked largest US cyber insurer for third year running by AM Best
23rd November 2023
The latest data from ratings agency AM Best confirms that Chubb remains the largest cyber insurer in the US when ranked by direct premiums written (DPW) in 2022. With DPW of $604.9 million in 2022, Chubb tops the list of the top 20 US cyber insurers, and now has a market ... Read the full article
Beazley sponsors debut two cat bonds in tandem, one cyber one nat cat
22nd November 2023
Specialist insurer Beazley is tapping the capital markets for reinsurance protection against cyber risks and named storm and earthquake losses with its first two Rule 144a catastrophe bond transactions. After sponsoring three private cyber cat bonds earlier this year, London headquartered Beazley has returned with its debut full 144a issuances, both ... Read the full article
Cyber attack/data breach top business risk in Asia Pacific: Aon
22nd November 2023
Global professional services firm Aon has unveiled its 2023 Global Risk Management Survey results, highlighting cyber attack/data breach as the top concern for organisations in the Asia Pacific region. Aon CEO, Greg Case, emphasised the heightened awareness of interconnected risks and people challenges, citing the dynamic landscape of trade, technology, weather, ... Read the full article
Geneva Association emphasises need for partnerships to address cyber insurance gaps
16th November 2023
The Geneva Association has released a report warning that the increasing frequency of cyberattacks, coupled with geopolitical tensions, is exposing significant gaps in cyber insurance coverage. The report reveals a 38% surge in cyberattacks globally in 2022 compared to the previous year, underscoring the need for innovative solutions to address the ... Read the full article
Howden names Jean Bayon de La Tour as International Head of Cyber
16th November 2023
In a strategic move to bolster its position in the face of escalating cyber threats, Howden, the global insurance group, has appointed Jean Bayon de La Tour as the International Head of Cyber, effective immediately. This appointment marks a significant milestone in Howden's initiative to attract top-tier broking talent, aligning with ... Read the full article