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.
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
Global cyber pricing falls for the first time in five years: Marsh
Average global cyber pricing down 2% in the last quarter, the broker says
Pen names Summerfield head of cyber
MGA says cyber represents ‘huge growth opportunity’
More mature risk models 'to drive capacity into cyber market': CyberCube's Bole
Recent advances in cyber risk modelling have been driven as much by regulatory pressure as by commercial opportunity, Rebecca Bole, head of industry engagement at analytics firm CyberCube, says
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