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.
Axa XL to acquire remaining stake in cyber security firm
Re/insurer previously held approximately 49% of S-RM’s shares
Eiopa urges firms better prepare for AI risk
A joint statement by EU financial regulators warned improvements in artificial intelligence models continue to significantly accelerates cyber risk
Cyber’s systemic risk problem
Systemic cyber risk does not lend itself to straightforward insurance solutions
IUA launches cyber claims committee
New group will aim to promote best practice across underwriting strategy, product development and risk management across the London market
LM Re names Spurgeon global head of cyber
Executive succeeds Ivonne Staisch, who has left the business
Cyber market at an inflection point: S&P
Rates decreases are showing signs of slowing as pricing discipline returns amid increasing claims pressure
Cyber insurers urged to prepare for quantum computing threats
While quantum computing could be another decade away, underwriters should start engaging with brokers and insureds now on steps to mitigate the risks, experts said
UK cloud service outage event loss could reach £1.7bn
UK’s exposure is concentrated in small number of ‘critical aggregation points’, Cyber Monitoring Centre warns
IUA highlights potential cyber coverage gap for W&I insurers
Cyber risks pose an increasingly potent threat in the context of mergers and acquisitions
Antares backs affirmative cyber war wording
Wording, developed in conjunction with Canopius, provides cover for operators of US critical infrastructure against hostile state and state-backed cyber action
Willis expands CyMax cyber facility
Renewed primary and excess cyber facility moves panel-based model with partners including Axa XL, Beazley, HDI Global and Markel
Tackling the World Cup cyber threat
For an event spanning three countries, the supply chain presents the greatest cyber vulnerability, a legal expert warns
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