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.
Corvus and Core Specialty team up on Cyber and Tech E&O product
13th April 2023
Cyber underwriter Corvus has announced the launch of a new program with Core Specialty to support the expansion of the Excess Tech E&O and Cyber product with additional capacity. This program is Core Specialty’s first offering in the Cyber and Tech E&O market and also marks a step for Corvus in ... Read the full article
Coalition launches generative AI for brokers and businesses
11th April 2023
CoalitionAI™, a new initiative to deploy generative AI and large language models to help brokers and businesses protect themselves from cyber risk, has been launched by Coalition. The new features released today use a combination of proprietary technology, large language modeling, and generative pre-trained transformers. The insurer plans to introduce additional AI ... Read the full article
Astaara increases underwriting capacity, boosts cyber insurance limit to $25mn
6th April 2023
Guernsey-based integrated insurance services and risk management advisory business, Astaara has increased its underwriting capacity and insurance limit from $12.5 million in 2020, to $25 million. Launched in 2020, Astaara's cyber insurance covers ports and terminals, as well as ships, shipowners and ship managers. The insurance is led by A-rated cyber ... Read the full article
ISS ESG announces launch of US Cyber Risk Index
31st March 2023
ISS ESG, the sustainable investment arm of Institutional Shareholder Services Inc. (ISS), has announced the launch of its US Cyber Risk Index, which supports investors by seeking to identify and track companies with low or negligible expected relative exposure to cyber breaches, based on the ISS ESG Cyber Risk Score, ... Read the full article
Jennifer Wilson to lead Newfront’s Cyber practice
30th March 2023
Newfront, the tech-driven insurance brokerage firm, has announced the appointment of Jennifer Wilson as the new Head of Cyber. In her new Boston-based role, Wilson will lead cyber coverage negotiation and claims advocacy at Newfront. She will report to Deirdre Finn, Head of Executive Risk. She is joined by Michele Lepper, Jennifer ... Read the full article
BMS appoints Monica Tigleanu as divisional director for cyber strategy
29th March 2023
Specialist re/insurance broker BMS has appointed Monica Tigleanu as divisional director, cyber strategy. In the new role, Tigleanu is entrusted with future-proofing BMS' cyber strategy by developing innovative products tailored to the evolving cyber risk landscape. The firm states that she will leverage her global network to bring new capacity from various ... Read the full article
Florence Levy joins INSUREtrust as Executive VP
28th March 2023
INSUREtrust, a cyber insurance and risk management broker within Starwind Specialty, has appointed Florence Levy as Executive Vice President. In the new role, Levy is tasked with expanding the firm's enterprise and Fortune 500 cyber client focus while also overseeing the continued development of INSUREtrust’s Cyber Secure Platform (CSP). She will also ... Read the full article
Chat GPT & AI a growing concern for cyber insurance: Corvus’ Hedberg
24th March 2023
With the capabilities of Chat GPT and artificial intelligence (AI) continuing to advance, this technology is only going to get smarter and potentially more difficult to control as it can be used to facilitate security breaches and increase the scale of cyber-attacks, states Peter Hedberg, Vice President of Cyber Underwriting ... Read the full article
Cyber market cooling as more solutions needed for systemic risks: AM Best
24th March 2023
The hot cyber market is starting to cool due to a slower pace of rate increases and cutbacks in capacity. At the same time, as the market evolves, more solutions are needed to address the systemic risk it possesses, according to a recent report by AM Best. The COVID-19 pandemic shifted ... Read the full article
Great American promotes Shepherd to Divisional President, Cyber Risk
23rd March 2023
Great American Insurance Group has promoted Elizabeth M. Shepherd to Divisional President, Cyber Risk. Shepherd joined Great American in 2018 as a Divisional Senior Vice President, where she played a key role in consolidating the company’s cyber risk products and programs. Within the role, she oversees the firm’s cyber initiatives and existing ... Read the full article
Corvus expands cyber team in Frankfurt
23rd March 2023
Cyber specialist Corvus Insurance has announced that it has expanded its Frankfurt, Germany-based team by appointing cyber underwriters and a local head of cybersecurity services. The addition of these hires will provide support in meeting demand for Corvus’ Smart Cyber Insurance product that was recently launched in Germany and Austria iRead the full article
Cowbell opens new technology center in Pune, India
23rd March 2023
Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs) has announced the opening of a new technology center in Pune, India. The new center will augment the firm’s existing development centers in Pleasanton, California; Plano, Texas; and Toronto, Canada. At the same time, it will also drive further global footprint ... Read the full article
Coalition releases new method for modelling aggregate cyber risk
22nd March 2023
Cyber insurance provider Coalition has released its new Active Cyber Risk Model, a framework for understanding cyber risk aggregation that provides an ongoing view into organisations’ cyber risks and identifies preventive measures to protect against new threats. The Active Cyber Risk Model, which offers a more accurate picture of cyber risk ... Read the full article
The Plexus Groupe selects CyberCube for cyber risk analysis
22nd March 2023
US brokerage and advisory firm The Plexus Groupe has selected CyberCube’s Broking Manager cyber risk analytics platform to quantify its cyber risk decisions. The broker - who offers comprehensive benefits, commercial insurance, HR and retirement solutions - will be utilising Broking Manager to help clients better understand their unique cyber exposures ... Read the full article
GFIA flags trillion dollar protection gaps in pensions, cyber
21st March 2023
A new report by the Global Federation of Insurance Associations (GFIA) has flagged some of the most pressing insurance protection gaps facing the world currently, and explored ways to help close them. Among the largest annual global protection gaps identified by GFIA were a $1 trillion gap for pensions, $900 billion ... Read the full article