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.
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
CyberCube outlines the risks for 2022
31st January 2022
Risk management firm CyberCube has identified four industries that are likely to be targeted by cyber criminals this year. Outlined in the company’s latest Global Threat Briefing, the four industries are healthcare, manufacturing, education, and utilities. The report was authored by William Altman, principal cyber security consultant, and Darren Thomson, head of ... Read the full article
Pango Group names new Executive Director, Global Cyber Solutions
28th January 2022
Pango Group has appointed Paul Miskovich as Executive Director, Global Cyber Solutions, where he will lead the company's global cyber insurance solutions business. Prior to joining Pango Group, Miskovich has held insurance leadership roles as Chief Underwriting Officer at Evertas, Group Head of Cyber at ARGO Group, and Global Head of ... Read the full article
WTW sets up cybercrime task force
28th January 2022
Re/insurance broker WTW has announced the formation of its CyberCrime task force within its Financial, Executive and Professional Risks (FINEX) global practice. The objectives of the task force include tailoring traditional or alternative risk transfer solutions for client’s enterprise risk management objectives, as well as identifying and advising on emerging risks ... Read the full article
Corvus Insurance names new head of international
28th January 2022
Corvus Insurance has named Oliver Delvos as its new head of international. Delvos will be based in Frankfurt, Germany, in a role that is slated to begin in the summer. In his new role, Delvos will develop and implement Corvus’s long-term operational and organisational strategy for territories outside of the US, with ... Read the full article
Cowbell Cyber makes two leadership hires
26th January 2022
Cowbell Cyber has appointed Theresa Le as Head of Claims and Risk Engineering and Dan Palardy as Lead Actuary as part of the company's expansion plan. Le brings just under 20 years of experience working with insurers and will provide leadership to both the claims and risk engineering teams. She most ... Read the full article
Cyber MGA Resilience sets up captive reinsurer
26th January 2022
Resilience, a cyber insurance and security solutions managing general agent (MGA), has announced the establishment of a new captive reinsurance company. Through the captive, Resilience Cyber Insurance Solutions plans to retain a share of each risk it underwrites. This strategy, Resilience says, will enable additional growth while also helping it to underwrite ... Read the full article
Hardening cyber market shows no signs of slowing: Berenberg
25th January 2022
Analysts at Berenberg have reported that hardening conditions in the cyber re/insurance market show no signs of slowing down, as demand for coverage continues to outstrip supply. As of Q3 2021, rates were up 204% cumulatively over 12 months and, currently, and Berenberg sees no evidence that this momentum will be ... Read the full article
Acrisure launches cyber services division
24th January 2022
Michigan-based Acrisure is to launch its own cyber services division. The company, which already has insurance, reinsurance, real estate services, and asset management divisions, said that it is forming Acrisure Cyber Services. The fintech company said that its new division would offer businesses an all-in-one solution encompassing risk assessment, insurance, security ... Read the full article
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