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.
Gallagher Re partners with BitSight to deliver cyber-modelling insights
28th February 2022
Global reinsurance broker Gallagher Re and BitSight have collaborated to integrate BitSight cybersecurity data with Gallagher Re’s reinsurance insights and analytics. The partnership will provide reinsurance clients with a holistic view of security performance and supply chain aggregation within their portfolios, giving them a comprehensive and differentiated understanding of cyber risk ... Read the full article
Marsh makes two senior cyber appointments
28th February 2022
Insurance broker and risk advisor Marsh has appointed Helen Nuttall as UK Head of Cyber Incident Management, Marsh Specialty, and Patrick Cannon as UK Head of Cyber Claims. Both appointments are based in London, with Nuttall reporting to Sarah Stephens, Head of Cyber, International, Marsh Specialty, and Cannon reporting to Helen ... Read the full article
Cowbell Cyber and Smart Choice to team up
24th February 2022
Cowbell Cyber and Smart Choice are to partner up to help distribute cyber coverage and risk monitoring services. Under the arrangement, Smart Choice's network of 9,000 agency partners across 45 states will have access to Cowbell Prime 100, Cowbell's flagship standalone and admitted cyber insurance product. Smart Choice said in a statement ... Read the full article
Cyber reinsurance premium to exceed property cat in decade beyond 2030: Gallagher Re
22nd February 2022
Analysis by global reinsurance broker, Gallagher Re, finds that by 2040 the cyber market will become comparable in size to either property or casualty as the segment experiences a second wave of growth from 2023. Gallagher Re's cyber reinsurance team has published a new white paper, CY-FI: the Future of Cyber ... Read the full article
Cyber threats continue to grow: Tokio Marine HCC
18th February 2022
The threat from cyber threats continues to grow, according to a new report from Tokio Marine HCC. The second edition of the Cyber Incidents Report found that just ten incidents in 2021 led to the theft of over $600m in cash, while tens of millions of records, and ten of thousands ... Read the full article
WTW partners with Falvey Cargo Underwriting on cyber coverage
18th February 2022
Re/insurance broker WTW has announced a new affirmative cyber coverage product for cargo and stock throughput risks, which is the result of a collaboration with Falvey Cargo Underwriting, a Falvey Insurance Group company. According to WTW, the product will be the first standalone cargo cyber solution available in the insurance marketplace. Among ... Read the full article
Brit recruits Hodgkins as Cyber Underwriting Consultant
16th February 2022
Specialty insurer Brit has announced the appointment of Tim Hodgkins as Cyber Underwriting Consultant. He joins from cybersecurity solutions provider SureCloud, where he held the role of Senior Security Consultant and focused on supporting financial services businesses manage and reduce risk across their technology landscape. Hodgkins started his career at PwC, working ... Read the full article
DeNexus updates cyber risk platform
15th February 2022
DeNexus has updated its DeRISK Platform, a tool that provides evidence-based authentic and transparent data in order for industrial companies to measure the financial impact of cyber risks on their business. The company launched the product as the latest in a series of ever-improving cyber models which are aimed at helping ... Read the full article
Fermat Capital Management adopts CyberCube software
9th February 2022
Fermat Capital Management, the specialist insurance-linked securities (ILS) investment manager, has licensed CyberCube’s Portfolio Manager software. The deal will see Fermat begin to use the application, which helps risk carriers financial stress portfolios against a range of cyber-related scenarios such as ransomware attacks or outages. Joanna Syroka, senior underwriter and director of ... Read the full article
Aon hires Intl. Head of Cyber Analytics, Reinsurance Solutions
4th February 2022
Re/insurance broker Aon has announced the appointment of Rory Egan as International Head of Cyber Analytics for its Reinsurance Solutions unit, based in London. He joins the company from Munich Re, where he has spent the previous five years. Most recently, Egan worked as a Senior Underwriter for Munich Re’s Cyber Centre ... Read the full article
Moody’s warns on the costs of cyber crime
4th February 2022
A recent court ruling in New Jersey highlights the hidden risks within cyber coverage, says a new briefing from Moody’s. The briefing, which came out a few days ago, looks at a ruling involving Merck & Co., which had sought insurance coverage from fifteen of its P&C insurers for damages related ... Read the full article
HDI Global SE names Meike Röllecke as Head of Cyber & Financial Lines
3rd February 2022
HDI Global SE has appointed Meike Röllecke as the new Head of Cyber & Financial Lines, where she will manage the global underwriting business of the industrial insurer with cyber insurance policies for industrial and corporate clients. Prior to her new role, Röllecke was Head of Cyber Local Risk, having previously ... Read the full article
Hiscox names Alannah Paul as VP, Cyber and Technology Product Head
3rd February 2022
Specialist insurer Hiscox has appointed Alannah Paul as Vice President, Cyber and Technology Product Head, in the US, where she will be based in Los Angeles, California, and report to Doug Karpp, Senior Vice President, Head of Specialty Risks in the US. In her new role, Paul will focus on continuously ... Read the full article
Mosaic partners with Transverse on US syndicated cyber capacity
2nd February 2022
Mosaic Insurance has partnered with hybrid fronting carrier Transverse Insurance Group to activate $20 million of cybersecurity capacity in the US market. The strategic partnership marks an expansion of Mosaic’s syndicated program, brokered by Acrisure and based on London’s subscription market. This initiative matches Mosaic’s proprietary capital through its Lloyd’s Syndicate 1609 ... Read the full article
CyberCube names Jon Laux as VP, Analytics
31st January 2022
Risk management firm CyberCube has appointed Jon Laux as Vice President, Analytics where he will oversee the company’s Actuarial and Cyber Risk Modelling teams. He joins from Aon where he held a number of senior roles over a 15 year period. Most recently he was Head of Cyber and Analytics , ... Read the full article