Reinsurance News
cyber risk modelling
Larger firms more exposed to machine identity related cyber losses: Report
6th March 2020
As much as 25% of cyber losses for the largest companies are machine identity related and, in the U.S., as much as 13% of total economic losses due to cyber events are related to unprotected machine identities, according to a new report by AIR Worldwide, sponsored by Venafi. The new report ... Read the full article
Kovrr adds Cohen & Company’s John Butler to advisory board
6th March 2020
Israel-headquartered cyber risk modeller Kovrr has announced the addition of John Butler, Head of the US Insurance Management Platform and the Global ILS Program at Cohen & Company, to its advisory board. Prior to joining Cohen & Company, Butler served as Managing Partner at re/insurance linked investment manager, Twelve Capital. Currently, ... Read the full article
ILS investors sense opportunity in cyber if modelling can improve: CyberCube
6th January 2020
Insurance-linked securities (ILS) investors can sense opportunity in the growing cyber re/insurance market, but analysts at CyberCube believe that modelling capabilities must improve before this valuable source of capacity can be tapped. As part of a new report, CyberCube argued that the financial impact of future global software failure could be ... Read the full article
The industry is starting to understand an infant cyber market: Guenther, Hacker
21st November 2019
Still in its infancy, the global cyber risk market continues to grapple with data and modelling challenges, but increasingly, re/insurers are becoming aware of a need for new and innovative approaches. This is according to the owner and founder of PeriStrat GmbH, Hans-Joachim Guenther and Peter Hacker, a globally recognized cyber ... Read the full article
QBE joins cyber modelling, prediction platform Corax
18th October 2019
QBE Europe, part of the QBE Insurance Group, is set to begin leveraging cyber exposure data and loss analytics provided by Corax. QBE will look to use the Corax platform to underwrite and manage cyber risk exposure. Founded in 2014, the cyber risk modelling and prediction platform has been available to the ... Read the full article
Cyber re/insurance is unsustainable on its current path: Arceo’s Ben Beeson
20th September 2019
The cyber insurance and reinsurance market is likely to be unsustainable if it continues on its current path, but better use of data and more informed regulation may offer a solution. This is according to Ben Beeson, Founding Member and Head of Insurance at Arceo, a risk analytics provider for the ... Read the full article
Guy Carpenter, CyberCube detail results of cyber cat loss study
8th September 2019
A collaborative effort by global reinsurance brokerage Guy Carpenter and CyberCube analytics has examined the potential financial impact a large-scale cyber attack could have on the standalone cyber insurance market as it exists today. By analysing 23 loss scenarios on CyberCube’s modelling platform, it was determined that a widespread data loss ... Read the full article
Industrial cyber vulnerability could spell multi-billion dollar loss for re/insurers
23rd August 2019
Analysis by predictive cyber risk modelling firm Kovrr has warned of the potential for a multi-billion dollar loss to the re/insurance industry stemming from a recently discovered vulnerability in the IoT operating system of a major security company. Kovrr modelled two scenarios in which attackers exploit the URGENT/11 exposure in VxWorks, ... Read the full article
NotPetya insured loss could creep 30%+ as tail develops: Johansmeyer, PCS
14th August 2019
The insurance and reinsurance industry loss from the NotPetya cyber-attack has the potential to increase by over 30% as the ongoing development of the event brings the tail into focus, according to Tom Johansmeyer, Co-Head of Property Claim Services (PCS). The NotPetya attack was the first designated cyber catastrophe event under ... Read the full article
Howden partners with Cytegic on automated cyber risk assessment
11th June 2019
Howden, the retail broking unit of Hyperion Insurance Group, has partnered with Cytegic, a cyber risk quantification solutions provider, on automated cyber risk assessments and financial impact analysis across global markets. “After researching numerous solutions and putting the Cytegic platform through a variety of challenging tests, we were able to confirm ... Read the full article
Aon partners with CyberCube to improve risk aggregation management
5th June 2019
Global re/insurance broker Aon has selected CyberCube’s analytics platform to help improve its cyber aggregation risk modelling capabilities and deliver better solutions to its insurance carrier clients. CyberCube’s cyber risk-modeling platform will enable Aon to support its clients on accumulation risk management and exposure management at a time when carriers are ... Read the full article
MS Amlin takes minority stake in reinsurance MGA, Envelop Risk
21st May 2019
MS Amlin has announced a minority strategic investment in global specialist reinsurance MGA, Envelop Risk, further strengthening the relationship between the two firms. Envelop Risk combines re/insurance expertise with artificial intelligence-driven cyber risk modelling. The two companies initially entered into a cyber reinsurance partnership in 2018, in a deal that saw ... Read the full article
Cyber insurance market growth slows in 2018, says Fitch
20th May 2019
Growth in the cyber insurance market slowed dramatically in 2018 when compared with the previous year. However, analysts at Fitch Ratings expect a desire for improved risk management and pricing will benefit the sector over the long-term. In total, the U.S. property and casualty (P&C) industry's total direct written cyber premiums ... Read the full article
Global cyber attack could cost businesses almost $200bn, finds study
4th February 2019
The global re/insurance industry is underprepared for the impact of a single large-scale ransomware cyber attack, which could cost businesses as much as $193 billion, according to a new study by the Cyber Risk Management (CyRiM) project. The report modelled an attack that infects 30 million devices worldwide and forces companies ... Read the full article
TigerRisk to adopt AIR’s cyber risk modelling platform
14th December 2018
Reinsurance brokerage, risk and capital strategic advisory firm TigerRisk Partners LLC has announced that it plans to adopt catastrophe risk modeller AIR Worldwide’s cyber risk analytics platform, ARC. TigerRisk intends to grow its cyber risk reinsurance offering using the platform, which is designed to inform risk selection, pricing, portfolio management and ... Read the full article
- ← Previous
- 1
- 2
- 3
- 4
- Next →
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
