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.
CFC promotes Jason Hart and James Burns to senior roles
3rd February 2025
CFC, a specialist insurance provider focused on emerging risks and cyber, has promoted James Burns to Global Head of Cyber and Jason Hart to Managing Director, Proactive & Global Security Services. In this newly created role, Burns will oversee CFC’s global cyber strategy, underwriting, and sales teams. Burns has been with CFC ... Read the full article
CyberCube and Acclaim Insurance Brokers partner to enhance cyber risk assessment
27th January 2025
CyberCube, a provider of cyber risk analytics, has partnered with Singapore-based Acclaim Insurance Brokers to enhance its cyber risk assessment capabilities. Founded in 1983, Acclaim is an independent risk and insurance brokerage firm committed to efficiently addressing the needs of enterprises. With a strong local presence, an extensive international network, and ... Read the full article
DUAL Europe launches Cyber Active Protect solution
22nd January 2025
DUAL Europe has launched DUAL Cyber Active Protect, a new product that combines comprehensive cyber insurance with cyber prevention services. DUAL’s product will reportedly offer cutting-edge identity security, powered by Silverfort, and a highly effective All-in-One Cybersecurity Platform, powered by Cynet, ensuring robust cyber defence alongside insurance coverage. "By offering advanced cybersecurity ... Read the full article
CyberCube predicts AI will amplify cyber attacks in 2025
15th January 2025
CyberCube, a provider of cyber risk analytics for the insurance sector, has released its 2025 Predictions Report, which suggests that artificial intelligence (AI) agents will give cybercriminals greater leverage to scale widespread attacks. The report highlights key trends and challenges shaping the cyber sector in the year ahead. Yvette Essen, Head ... Read the full article
LMA introduces framework to help Lloyd’s insurers manage lesser-known cyber risks
14th January 2025
In its new report, the Lloyd’s Market Association (LMA) presents a framework to help Lloyd’s insurers manage exposure to lesser-known systemic cyber risks. Chris Mather, Senior Executive, Technical Underwriting at the LMA, explains that the framework assesses the aggregation potential in "other cyber" scenarios. While systemic risks like the failure of a ... Read the full article
89% of executives plan to expand cyber insurance for technological vulnerabilities: Chubb
10th January 2025
Cybersecurity and technological disruption are identified as the top threats to business growth, with over 89% of executives planning to expand their cyber insurance coverage to address increasing technological vulnerabilities, according to a report by Chubb. The findings come from a Harris Poll survey of 500 business leaders involved in risk ... Read the full article
Canopius appoints Laura Burke as US Head of Cyber and Technology
9th January 2025
Canopius, a global specialty insurer and reinsurer, has announced the appointment of Laura Burke as US Head of Cyber and Technology. Burke’s appointment reflects the company’s focus on expanding its presence in the US cyber insurance market and its commitment to offering innovative and reliable solutions that help businesses navigate evolving ... Read the full article
Old Republic forms new cyber and technology insurance company
9th January 2025
Old Republic International Corporation has announced the formation of a new underwriting subsidiary, Old Republic Cyber, Inc., which will offer cyber and technology errors and omissions (E&O) insurance products. The new company will be led by CJ Pruzinsky as President and Kevin McGowan as Executive Vice President and Chief Underwriting Officer. ... Read the full article
Cyber reinsurance market increasingly mature and efficient: Howden
3rd January 2025
The 1 January 2025 cyber reinsurance renewals progressed smoothly, with some notable price moderation, the entry of new reinsurers, and a growing focus on non-proportional products, reflecting an increasingly mature and efficient market, according to Howden's 1.1 renewal report. Reinsurance buyers benefited from favourable supply and demand conditions in 2024, driven ... Read the full article
Reinsurer appetite up at Jan 1 as loss-free property cat rates fall 5-15%: Guy Carpenter
30th December 2024
Property catastrophe renewals were consistently oversubscribed at January 1 as reinsurer appetite increased more than demand, with a range of pricing outcomes as non-loss-impacted renewals saw risk-adjusted rate reductions of 5% to 15%, according to reinsurance broker Guy Carpenter. At the same time, and in contrast to that broader property cat ... Read the full article
US cyber insurance market enters into soft phase: Tokio Marine HCC
23rd December 2024
According to Tokio Marine HCC – Cyber & Professional Lines Group (CPLG), the US cyber insurance sector is now in a soft market period, due to premium rate changes dropping below zero in 2024. The firm recently published its 2024 Cyber Market report, which examines the evolving landscape of the US cyber ... Read the full article
Reinsurers are leaning into the cyber market: JMP
18th December 2024
Analysts at JMP report that reinsurers are increasingly leaning into the cyber market, a move expected to drive better pricing, and terms and conditions for cedants at the January 1 renewals, building on trends observed at recent renewals. This assessment follows JMP's recent meetings with insurers, reinsurers, and brokers in London, ... Read the full article
CyberCube enters into multi-year partnership with Mathison Insurance
16th December 2024
CyberCube, a provider of cyber risk analytics for the insurance sector, has signed a multi-year partnership with Mathison Insurance Partners, in a move that will allow Mathison to deliver enhanced cyber risk solutions to its retail partners and clients. For those unaware, Mathison Insurance Partners, is a specialist wholesale brokerage based ... Read the full article
Cyber risk to intensify in 2025 as attackers switch tactics: Moody’s
12th December 2024
Cyber risk is set to intensify next year as attackers switch tactics in response to better corporate cyber defences, and as advances in artificial intelligence (AI) increase the volume and effectiveness of their strikes, says Moody's Ratings. According to Moody's 2025 cybersecurity outlook, ransomware attackers are expected to shift to targeting ... Read the full article
Closing the cyber protection gap with cat bonds: Geneva Association
12th December 2024
Financial innovations such as cyber catastrophe bonds could help bridge the cyber protection gap, according to a recent report by the Geneva Association. As businesses and societies become increasingly digital, cyber threats such as ransomware, data breaches, and IT outages have emerged as top concerns. Over the past decade, the cyber ... Read the full article
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