Cyber
Cyber remains a major opportunity for global specialty re/insurers with premiums rocketing in recent years. Awareness of the risks posed by cyber is also rising, with companies taking action to ensure ‘silent’ cyber is not present within business written across several other classes of business. While several re/insurers are actively growing their position in the cyber market, this class has yet to be tested by a major catastrophic loss event. Understanding the risk potential of cyber exposures is vital as the market continues to grow.
Markel hires Meek to lead Mena cyber portfolio
Meek will be responsible for growing the insurer’s cyber offering in the region
Lloyd's PV market faces increased scrutiny amid exposure concerns
Rising global social, economic and geopolitical tensions means political violence underwriters must be ‘on top of aggregations’, chief of markets says, as Lloyd’s set for 11% premium growth in 2024
Legal Focus: Cyber readiness must start at the top for insurers and insureds
Cyber attacks are an existential threat and have the potential to affect every part of a business. Firms must therefore have readiness baked into their overall strategy – and insurers must play their part in supporting them
Axis closes landmark $75m cyber catastrophe bond
Bermudian carrier completes market's first 144A cyber bond with ‘broad investor support’ as the ILS market continues to open up to cyber risk
Howden launches Lloyd's-backed European cyber and tech E&O facility
Canopius and IQUW lead the facility that provides limits of up to €20m for mid-sized companies in Europe
Howden taps Marsh for international cyber head
Fast-growing broker hires Marsh managing director Jean Bayon de La Tour to drive cyber expansion
Ransomware attack frequency continues to rise
October saw ‘relative slowdown’ in attacks, but frequency is still up year-on-year, cyber underwriter Corvus says
Aspen promotes Hart to international head of cyber
Edward Hart will lead specialty re/insurer’s cyber underwriting strategy
Peak cyber perils cannot be modelled: Geneva Association
Better data can help narrow the protection gap but models alone will not be enough, the association warns
Arch launches Australian cyber practice
Insurer hires Chubb's Green to develop cyber portfolio in Australia and Asia Pacific region
Legal Focus: The shipping sector and its insurers are increasingly exposed to cyber risks
A complex regulatory environment and urgent need to decarbonise may limit the industry’s ability to invest in mitigating the rising cyber threat
Travelers to acquire cyber MGU Corvus
US insurance giant strikes $435m deal for specialist managing general underwriter
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