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.
M&S estimates £300m hit to operating profit from recent cyberattack
21st May 2025
Large British retailer Marks & Spencer (M&S) has disclosed that the recent cyber attack is estimated to impact Group operating profit by approximately £300 million for 2025/26. As a reminder, on 22 April 2025, M&S announced it was responding to a cyber incident that had disrupted its operations. The attack is ... Read the full article
Aviva to strengthen cyber exposure management with CyberCube partnership
19th May 2025
CyberCube, a provider of cyber risk analytics, has partnered with US insurer Aviva to harness artificial intelligence (AI) for cyber threat actor intelligence. This partnership will see Aviva use CyberCube’s ‘Portfolio Threat Actor Intelligence’ service and its suite of cyber analytics software, which in turn will strengthen the insurer’s cyber exposure ... Read the full article
Willis launches FinTech Plus, a global insurance solution
13th May 2025
Willis, a WTW business, has launched FinTech Plus, an insurance solution for FinTech firms navigating scale, complexity, and regulatory evolution globally. The unified solution aims to address the financial risk landscape, which includes options for comprehensive cyber protection, delivered through a single proposal form and wording to simplify the process and ... Read the full article
UK cyber insurance claims in 2024 down YOY but still up on earlier years: Marsh
12th May 2025
Cyber claims in the United Kingdom decreased by 20% in 2024 following a spike in 2023, although they remain around one-third higher than in 2020, 2021, and 2022, according to new research by Marsh, the insurance broking and risk advisor arm of Marsh McLennan. Marsh’s paper, “UK Cyber Insurance Claims Trend ... Read the full article
AXIS launches cyber and liability coverage for Canadian companies with $2bn revenue
7th May 2025
Global specialty underwriter and re/insurance provider, AXIS Capital Holdings Limited (AXIS), has launched a customisable cyber and specialist liability coverage insurance policy to Canadian companies with up to $2 billion in revenue. The policy, AXIS Cyber Technology and Miscellaneous Professional Liability (ACTM), aims to protect businesses and avoid potential gaps in ... Read the full article
DragonForce ransomware behind M&S cyberattack is a global threat: Killara Cyber CEO
2nd May 2025
The recent cyberattack on M&S is not a UK-centric incident, with the DragonForce ransomware group rapidly emerging as one of the most dangerous threats in the cybersecurity domain globally, according to Rick Welsh, CEO of Killara Cyber. Killara Cyber is the cyber insurance program of Canopy Specialty Insurance. It offers a ... Read the full article
Coalition partners with Allianz Commercial to launch active cyber insurance in the Nordic region
1st May 2025
Coalition, an active insurer focused on preventing digital risks through its subsidiary, Coalition Insurance Solutions, a filial of Coalition Insurance Solutions GmbH, Tyskland, has launched its Active Cyber Insurance in the Nordic region. The offering is available immediately in Denmark, and will become available in Sweden on May 8th, 2025. To offer ... Read the full article
M&S and Co-op cyberattacks reveal rise in advanced cybercriminal tactics: Resilience
1st May 2025
Simon West, Director of Customer Engagement at Resilience, commented on the recent cyberattacks targeting Marks & Spencer (M&S) and Co-op, stressing that the incident is particularly concerning due to the attackers' use of advanced tactics such as SIM swapping and MFA bypass. The attacks, believed to have been carried out by ... Read the full article
CyberCube partners with Galahad Risk Solutions to enhance cyber risk management
28th April 2025
CyberCube, a provider of cyber risk analytics, has partnered with specialist brokerage Galahad Risk Solutions to help small to medium-sized enterprises (SMEs) and middle-market organisations better understand and manage their cyber risk exposure. Galahad Risk Solutions, founded by Ben Beeson, is a specialist insurance broker focused on bridging the gap between ... Read the full article
Trium Cyber & HITRUST develop insurance and assurance process for better cyber coverage
28th April 2025
Trium Cyber, the authorised service company for Syndicate 1322 at Lloyd’s, has developed in collaboration with HITRUST, an innovative approach to more accurately quantify risk by combining actuarial science with third-party security certification. Thanks to this collaboration, Trium will be able to provide greater cyber coverage at lower cost, the firm ... Read the full article
Sustained demand key to long-term cyber re/insurance market growth: Gallagher Re
22nd April 2025
Sustaining demand in the cyber insurance market is vital for long-term growth, requiring increased investment and innovation in product design to deliver more comprehensive, tailored solutions that position cyber coverage as an essential, value-driven investment, according to a recent report by Gallagher Re. The reinsurance broker emphasised that ensuring sustainable growth ... Read the full article
Remote access behind 80% of ransomware attacks, At-Bay reports
10th April 2025
At-Bay, a cyber insurance and security firm known for its integrated "InsurSec" approach, has released its 2025 InsurSec Report, revealing significant shifts in the cyber threat landscape. Drawing on data from its own claims portfolio, the report highlights a resurgence in ransomware activity in 2024, with remote access tools—particularly VPNs—serving as ... Read the full article
Coalition launches Active Cyber Policy with enhanced coverage
10th April 2025
Coalition, an active insurer focused on preventing digital risks, has launched its new Active Cyber Policy, a reimagined US surplus lines cyber policy designed to protect businesses amid an ever-evolving digital threat landscape. Shawn Ram, Chief Revenue Officer at Coalition, said, “With the launch of the Active Cyber Policy, Coalition is ... Read the full article
Lockton partners with Axio to enhance cyber risk analytics
8th April 2025
Independent insurance broker Lockton has announced a strategic partnership with Axio, a provider of cyber risk quantification solutions, to enhance cyber risk analytics. This collaboration provides organisations with the tools they need to better understand and manage cyber risks in financial terms. By integrating Axio’s platform, Lockton will help clients move beyond ... Read the full article
Resilience partners with Accredited to expand capacity of cyber risk solutions
8th April 2025
Cyber risk solutions firm Resilience has expanded its capacity to provide cyber risk solutions to large enterprise accounts with revenue of more than $10 billion through a partnership with Accredited Insurance Holdings, a global programme manager. The expanded underwriting aims to address clients’ complex cyber risks. Resilience’s clientele comprises over 10% of ... Read the full article
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