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.
Kovrr adds Lorenzo Sargenti to advisory board
25th November 2020
Cyber risk modelling firm Kovrr has announced the addition of Lorenzo Sargenti to its advisory board. Sargent formerly served as Managing Director of Client Development at RMS. As part of the advisory board, he will play an instrumental role in guiding Kovrr through client and market development initiatives, providing cyber risk modelling ... Read the full article
Howden set to acquire cyber, tech-focused broker Safeonline
24th November 2020
Insurance broker Howden has agreed to acquire specialist broker and Lloyd’s coverholder Safeonline. The deal will see a team of cyber insurance specialists join Howden’s cyber division and is intended to add resources and expertise to the company's presence in the marketplace. Chris Cotterell, Chief Executive Officer of Safeonline will join Howden ... Read the full article
Aon & HSCM launch $70mn catastrophic cyber product
19th November 2020
Global insurance and reinsurance broker, Aon, has collaborated with Hudson Structured Capital Management Limited (HSCM) on the launch of a new product designed to protect re/insurers against systemic and catastrophic cyber events. Driven by growing awareness at C-suite level, reputational risk and regulation, alongside an increasing number of cyber attacks, the ... Read the full article
Human behaviour critical to pandemic & cyber modelling: CyberCube
16th November 2020
A new report by cyber analytics provider CyberCube stresses the importance of understanding and predicting human behaviour when it comes to modelling both pandemic and cyber risk. According to the report, which sets out to understand the lessons both pandemic and cyber modelers could learn from each other, the potential for ... Read the full article
AXIS Insurance adds lead underwriters to US Cyber & Tech unit
9th November 2020
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has announced the addition of three lead underwriters to its US Cyber and Technology team. Ashley Sales, Southeast Regional Underwriting Manager, will be based in Alpharetta, Georgia, while Jonah Papesh, West Coast Regional Underwriting Manager, will be based in ... Read the full article
Munich Re Speciality launches new cyber, tech E&O Solutions
23rd October 2020
Munich Re Specialty Insurance, a division of the global reinsurer, has launched new cyber and technology errors and omissions (E&O) insurance solutions. The solutions are designed to protect US-domiciled firms with domestic and/or global exposure and are offered on a non-admitted basis for both primary or excess protection. The policies have been ... Read the full article
AXIS Insurance and Kennedys Law to create marine cyber product
22nd October 2020
Re/insurer AXIS Insurance and law firm, Kennedys Law LLP have announced a collaboration for services in connection with the new AXIS Marine Cyber Insurance product. This new product will provide insurance cover for the marine shipping market to protect against cyber exposures on board vessels and onshore in shipping company offices. It ... Read the full article
Munich Re’s HSB expands Cyber Suite
21st October 2020
Munich Re’s HSB has expanded its HSB Cyber Suite product to help protect small businesses with new insurance coverages and risk management services. The services include website security scans and computer system upgrades to help prevent future cyber crimes. HSB Cyber Suite provides a collection of cyber insurance and services designed to ... Read the full article
Demand for cyber cover to rise alongside frequency & severity: Höpke, Munich Re
19th October 2020
The frequency and severity of cyber events is on the rise and as the peril grows in relevance, particularly under COVID-19 conditions, demand for protection is likely to continue to increase, according to Doris Höpke, Member of the Board of Management at Munich Re. As the ongoing pandemic continues to restrict ... Read the full article
Insurance must be an integrated part of a better future: Peak Re CEO
16th October 2020
Peak Re Chief Executive Officer Franz Josef Hahn has underlined how the insurance industry must be an integrated part of working towards a better future. In a conversation at one of Aon’s recent fireside chats with industry leaders, Hahn spoke at length about how emerging risks such as cyber and climate ... Read the full article
Chubb launches UK personal cyber product
9th October 2020
Re/insurer, Chubb UK has announced the launch of a new personal cyber product to protect individuals and their families. Chubb's Personal Cyber Insurance provides a range of protection and services not only to help mitigate risks and keep individuals safe online but also to offer action and practical support if they ... Read the full article
PCS launches new data set for cyber risk
7th October 2020
Property Claim Services (PCS), a Verisk Analytics business, has announced the launch of a new data set to help cyber insurers and reinsurers optimise their capital and manage risk more effectively. The first non-loss reporting offering from PCS, this platform will provide insight into the largest affirmative cyber risks in the ... Read the full article
KPMG releases report on cyber security risks
7th October 2020
KPMG has published a report in collaboration with Lloyd's that highlights the new threats to intellectual property (IP) portfolios posed by a changing risk landscape under COVID-19. The report, called “Safeguarding Intellectual Property to Enhance Corporate Value”, examines the increasing importance of intellectual property as a driver of corporate value, drawing ... Read the full article
Cyber competition levelling off, rates on the up: PartnerRe survey
6th October 2020
As the cyber insurance market begins its slow-down in competitive expansion, market participants in a new PartnerRe survey are noting a trend towards higher pricing. A joint venture by PartnerRe and Advisen, the survey took place during the second quarter of 2020 and featured 260 cyber insurance brokers and 190 cyber ... Read the full article
Marsh forms digital asset partnership with HUB Security
5th October 2020
Re/insurance broker Marsh has partnered with HUB Security, a hardware cybersecurity solutions provider, to offer an insured storage solution that enables US financial institutions to offer digital asset custodial services. Clients will be able to store and manage digital assets, including cryptocurrency, on HUB's military-grade technological platform. They can also purchase up ... Read the full article