Reinsurance News
Cyber insurance & reinsurance news
Cyber insurance and reinsurance news, covering the growth of cyber reinsurance underwriting, the risks faced by cyber risk insurer’s, major cyber loss events, cyber reinsurance product development and cyber risk innovation trends.
Cyber risk is an emerging and fast-growing class of insurance and reinsurance business, so our cyber reinsurance news follows industry trends and reports on innovations, industry cyber risk capacity issues, as well as what is happening in the cyber underwriting market.
DragonForce ransomware behind M&S cyberattack is a global threat: Killara Cyber CEO
2nd May 2025
The recent cyberattack on M&S is not a UK-centric incident, with the DragonForce ransomware group rapidly emerging as one of the most dangerous threats in the cybersecurity domain globally, according to Rick Welsh, CEO of Killara Cyber. Killara Cyber is the cyber insurance program of Canopy Specialty Insurance. It offers a ... Read the full article
Coalition partners with Allianz Commercial to launch active cyber insurance in the Nordic region
1st May 2025
Coalition, an active insurer focused on preventing digital risks through its subsidiary, Coalition Insurance Solutions, a filial of Coalition Insurance Solutions GmbH, Tyskland, has launched its Active Cyber Insurance in the Nordic region. The offering is available immediately in Denmark, and will become available in Sweden on May 8th, 2025. To offer ... Read the full article
M&S and Co-op cyberattacks reveal rise in advanced cybercriminal tactics: Resilience
1st May 2025
Simon West, Director of Customer Engagement at Resilience, commented on the recent cyberattacks targeting Marks & Spencer (M&S) and Co-op, stressing that the incident is particularly concerning due to the attackers' use of advanced tactics such as SIM swapping and MFA bypass. The attacks, believed to have been carried out by ... Read the full article
CyberCube partners with Galahad Risk Solutions to enhance cyber risk management
28th April 2025
CyberCube, a provider of cyber risk analytics, has partnered with specialist brokerage Galahad Risk Solutions to help small to medium-sized enterprises (SMEs) and middle-market organisations better understand and manage their cyber risk exposure. Galahad Risk Solutions, founded by Ben Beeson, is a specialist insurance broker focused on bridging the gap between ... Read the full article
Trium Cyber & HITRUST develop insurance and assurance process for better cyber coverage
28th April 2025
Trium Cyber, the authorised service company for Syndicate 1322 at Lloyd’s, has developed in collaboration with HITRUST, an innovative approach to more accurately quantify risk by combining actuarial science with third-party security certification. Thanks to this collaboration, Trium will be able to provide greater cyber coverage at lower cost, the firm ... Read the full article
Sustained demand key to long-term cyber re/insurance market growth: Gallagher Re
22nd April 2025
Sustaining demand in the cyber insurance market is vital for long-term growth, requiring increased investment and innovation in product design to deliver more comprehensive, tailored solutions that position cyber coverage as an essential, value-driven investment, according to a recent report by Gallagher Re. The reinsurance broker emphasised that ensuring sustainable growth ... Read the full article
Remote access behind 80% of ransomware attacks, At-Bay reports
10th April 2025
At-Bay, a cyber insurance and security firm known for its integrated "InsurSec" approach, has released its 2025 InsurSec Report, revealing significant shifts in the cyber threat landscape. Drawing on data from its own claims portfolio, the report highlights a resurgence in ransomware activity in 2024, with remote access tools—particularly VPNs—serving as ... Read the full article
Coalition launches Active Cyber Policy with enhanced coverage
10th April 2025
Coalition, an active insurer focused on preventing digital risks, has launched its new Active Cyber Policy, a reimagined US surplus lines cyber policy designed to protect businesses amid an ever-evolving digital threat landscape. Shawn Ram, Chief Revenue Officer at Coalition, said, “With the launch of the Active Cyber Policy, Coalition is ... Read the full article
Lockton partners with Axio to enhance cyber risk analytics
8th April 2025
Independent insurance broker Lockton has announced a strategic partnership with Axio, a provider of cyber risk quantification solutions, to enhance cyber risk analytics. This collaboration provides organisations with the tools they need to better understand and manage cyber risks in financial terms. By integrating Axio’s platform, Lockton will help clients move beyond ... Read the full article
Resilience partners with Accredited to expand capacity of cyber risk solutions
8th April 2025
Cyber risk solutions firm Resilience has expanded its capacity to provide cyber risk solutions to large enterprise accounts with revenue of more than $10 billion through a partnership with Accredited Insurance Holdings, a global programme manager. The expanded underwriting aims to address clients’ complex cyber risks. Resilience’s clientele comprises over 10% of ... Read the full article
Closing the cyber protection gap for small businesses: CyberCube
4th April 2025
A growing cyber protection gap is affecting small businesses, requiring a concerted effort from key industry stakeholders, including cyber brokers, underwriters, and reinsurers to help close it, according to a recent report by CyberCube. The report highlights that small businesses with annual revenues between $10 million and $250 million make a ... Read the full article
SecurityScorecard & Willis partner to enhance cyber risk management
4th April 2025
SecurityScorecard has entered a strategic partnership with Willis, a WTW business, to enhance cyber risk quantification, improve insurance modelling, and strengthen security strategies for organisations globally. As part of the partnership, SecurityScorecard has named Willis its official insurance broker, reinforcing the connection between cyber risk insights and insurance strategy. The collaboration combines ... Read the full article
Global cyber premium to more than double by 2030: Munich Re
3rd April 2025
Despite cyber premium growth slowing in the past two years, Munich Re has suggested that global premium volume will more than double by 2030, growing at an average annual growth rate of more than 10%. According to estimates by the reinsurer, the global cyber insurance market premium totaled $15.3 billion in ... Read the full article
Florian Happ named Cyber Team Lead for Munich Re US
3rd April 2025
Global reinsurer Munich Re has announced the appointment of Florian Happ as the new Cyber Team Lead for Munich Re US. Happ has been with Munich Re for 16 years, having joined in 2009. During his tenure, he has held various underwriting roles, including Underwriting Casualty Treaty Reinsurance for US and ... Read the full article
Japan’s cyber insurance market continues to grow amid flat reinsurance demand: Gallagher Re
3rd April 2025
The Japanese cyber insurance market continues to grow, albeit at a slower pace compared to previous years, driven by the increasing number of policyholders, according to reinsurance broker Gallagher Re’s recent market analysis. Gallagher Re's April 1 renewal report shows that overall, the global reinsurance market showed increased capacity and ... Read the full article
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