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.
CFC promotes Burns to global head of cyber
Specialist underwriting firm unifies global underwriting and cyber security offerings
CFC launches cyber physical damage bolt-on
Specialist underwriter says the cyber insurance market needs to provide meaningful capacity for physical events
Cyber soft market 'nearing its end'
The market can expect to see a ‘large jump’ in rates when the market changes, Aviva’s head of cyber predicts
IUA plans review of core services to address changing risk landscape
International Underwriting Association to develop a central risk function to address issues such as sustainability and cyber risk
LMA releases framework for managing ‘other cyber’ systemic risk
Framework focuses on lesser-known systemic risks including potential outage of widely used industry-specific systems
WTW launches cyber insurance facility in Asia
QBE and Axl XL-backed facility designed to address evolving cyber security challenges with a primary insurance capacity of up to $15m
US commercial rates decelerate in final quarter of 2024
Sector posts average price increase of 2.6% in the quarter as commercial property and cyber rates moderate
Old Republic launches cyber underwriting unit
US group hires Resilience executives to lead new underwriting operation
Cyber reinsurance rates moderate at January renewals
Increased reinsurance capacity enters market at 1/1, as buyers shift to non-proportional covers amid a better understanding of tail risk
Cyber buyers ‘capitalise on low rates to increase coverage’
European cyber insurance price decreases expected to continue in 2025, but with a potential for moderation in the second half of the year
Beazley promotes Lezzi to group head of cyber risks
Lezzi was most recently head of international cyber risks
Cyber insurers look for stability in 2025
The cyber market is still profitable but a continued slowdown in rates could cause problems for underwriters
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