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 acquires cyber platform Tarian from Beat
6th January 2022
Beat Capital Partners, a long duration investor specialising in the insurance industry, has announced the sale of Tarian Underwriting to Corvus Insurance, a provider of smart commercial insurance products powered by AI-driven risk data. Established in 2016, Tarian is cyber underwriting platform that provides solutions to the cyber risk environment and ... Read the full article
Cyber requires significant investment in underwriting: Beazley
4th January 2022
Specialist insurer Beazley recently hosted a small group meeting with Paul Bantick, Global Head of Cyber and Technology, and Sarah Booth, Head of IR, which focused on cyber insurance. According to the insurer, cyber requires significant investment in underwriting and data analytics and cyber experts, but will generate attractive returns. It believes ... Read the full article
Gap between best and worst cyber insurers expected to widen in 2022: CyberCube
17th December 2021
According to Pascal Millaire, Chief Executive Officer of cyber risk analytics specialist, CyberCube, the gap between the best-performing cyber insurers and the worst-performing are expected to widen in 2022. In a series of predictions from CyberCube, Millaire said that the spread between the loss ratios of top quintile carriers and bottom ... Read the full article
Generali partners with Accenture, Vodafone Business on cyber solutions
15th December 2021
Generali has joined forces with Accenture and Vodafone Business on the creation of cyber insurance services designed to help corporate and SMEs clients more effectively recognize, respond to and recover from cybersecurity threats and incidents. The initiative includes cyber risk assessments, phishing simulations and learning programs. The new services are aligned to ... Read the full article
Coalition launches cyber-focused Captive
13th December 2021
Commercial lines insurtech Coalition is set to launch a new captive targeting risk on its cyber programs. It's hoped this Captive will enhance Coalition's ability to manage capacity and its long-term growth objectives, whilst also aligning incentives with its customers. The firm's technology-driven approach is eyeing a new, more successful model of ... Read the full article
New Dawn Risk’s Webster forecasts bright 2022 for cyber captives
9th December 2021
New Dawn Risk's James Bullock-Webster believes that at some point in the coming year larger clients will no longer see value in transferring exposure to the insurance market, instead turning towards harnessing the unique benefits of captives. Bullock-Webster, who serves as Head of Technology, Media and Cyber, sees great potential for ... Read the full article
Aon turns to Guidewire for cyber software integration
7th December 2021
Re/insurance broker Aon has announced plans to implement the cyber data listening and modelling collection capabilities offered by specialist firm Guidewire. Aon views the high-profile events of 2021 as having further reinforced industry concerns over the systemic potential of cyber attacks, and the rapid rise of ransomware events. It's hoped Guidewire’s Cyence ... Read the full article
Alliant appoints O’Malley to senior cyber position
30th November 2021
Alliant Insurance Services has announced the appointment of Meghan O’Malley as First Vice President. She will lead the Western region, providing cyber solutions for Alliant clients located west of the Mississippi River. Prior to joining Alliant, O’Malley served as Divisional Director for Cyber and Technology Solutions at Howden Specialty in London where ... Read the full article
Cybercube warns underwriters after GoDaddy attack
26th November 2021
New research has highlighted how a Single Point of Failure (SPoF) cyber attack represents one of the most likely ways the world could experience its first systemic cyber event, according to analytics company, CyberCube. The GoDaddy breach is the latest in a series of cyber attacks on SPoFs including the SolarWinds ... Read the full article
Cyber-attacks are top concern for Board Directors: McGill
25th November 2021
According to a new report from specialist reinsurance broker McGill and Partners, cyber-attacks are the number one concern for Board Directors. 81% of board directors surveyed by McGill and Partners and NEDonBoard, the professional body for non-executive directors and board members, identified cyber-attacks as the biggest threat that their business currently ... Read the full article
Corvus opts for portfolio management tools from CyberCube
25th November 2021
Corvus Insurance, a provider of AI-powered commercial insurance, has announced that it plans to use CyberCube’s Portfolio Manager to better analyse and understand cyber risk. In addition to Portfolio Manager, the Boston-based managing general agent (MGA) will also use CyberCube’s Single Point of Failure (SPoF) model and Attritional Loss model as ... Read the full article
Marsh McLennan and BitSight partner to bolster cybersecurity performance
24th November 2021
Marsh McLennan and BitSight have entered a partnership to help both organisations better understand, measure, and manage their cyber risks. Marsh McLennan's recently announced Cyber Risk Analytics Center will leverage BitSight Security Ratings, data, and analytics, enabling clients to better understand their cybersecurity performance and make more informed risk management decisions. Throughout ... Read the full article
Gallagher Re hires Aon’s Theo Norris as a dedicated cyber ILS broker
12th November 2021
Global reinsurance broker Gallagher Re has announced the addition of Theo Norris to its cyber reinsurance team as a dedicated cyber insurance-linked securities (ILS) broker, as the company continues to bolster its capabilities in the cyber risk space. In his new role, Norris is tasked with building and leading the development ... Read the full article
Climate change a growing concern for global re/insurers: PwC
8th November 2021
The PwC Insurance Banana Skins 2021 survey shows that cybercrime is ranked as the number one risk by carriers globally, while climate change tops the list for reinsurers amid a rise in natural catastrophe events. The latest global edition of the biennial survey includes responses from more than 600 industry leaders ... Read the full article
Aon to bolster cyber capabilities with Guidewire Software partnership
5th November 2021
Aon is set to implement cyber data listening and modelling collection technology offered by Guidewire Software, as the broker looks to enable improved risk quantification and improve underwriting confidence more broadly. Aon cites a desire to more effectively model client portfolios and develop new underwriting solutions as a driving factor of ... Read the full article
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