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.
MMC and Zurich call for public-sector support on cyber cat resilience
Greater public-private action is needed for the development of innovative solutions to close the cyber insurance coverage gap, white paper argues
US cyber could exceed Katrina loss potential by 2034
Market’s rapid expansion means $121bn in capacity could be needed to cover a one-in-250-year aggregate event, according to CyberCube
Nirvana inks European cyber binder with Aviva
Multi-year agreement will enable Nirvana to underwrite cyber risk in the European Economic Area
Spyware-on-sea: how insurers can protect maritime infrastructure
Cyber attacks on the global merchant fleet are rising and shipping companies need better defences and bigger insurance policies
Cyber catastrophe models fail to understand SME market: Guy Carp
Without better understanding of cyber catastrophe risk, it could be harder to attract capital into the SME cyber market, reinsurance broker warns
Axis names Horta head of cyber resiliency services
Bermuda-based carrier bolsters cyber risk advisory team
CrowdStrike incident has caused industry to ‘refocus on systemic risk’: CFC
CFC’s cyber head sees CrowdStrike event as an excellent example of how cyber insurance products can work exactly as intended
The CrowdStrike incident is serious and the legal ramifications cannot be ignored
Companies and individuals must have known CrowdStrike’s Falcon software was used by many interconnected and dependent companies worldwide and they would all be affected by a problem with the update
Cowbell appoints Moss to board of directors
Moss is group head of financial lines and cyber at Zurich Insurance at present
Property book drives record H1 for Beazley
The Lloyd’s re/insurer booked a record first-half profit of nearly $730m
Cyber insurance must play a vital role in protecting the healthcare sector
Cyber attacks on the healthcare sector are becoming worryingly frequent and growing in sophistication, posing significant risks to both operational integrity and patient safety
CrowdStrike is the cyber insurance market's first stress test
The global IT outage will spark a revaluation of cyber insurance wordings, particularly in relation to business interruption
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