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.
AI increasing physical cyber risk in shipping
AI-based coding tools could make complicated marine systems hackable by 'novice' threat actors, the joint Insurance Day/Lloyd’s List podcast has heard
Cyber and D&O rate declines moderating: Aon
The global insurance markets saw continued pressure on pricing in the third quarter, according to Aon
Gallagher Re launches Apac cyber framework
Reinsurance broker looks for cyber growth in international markets
Amwins launches SME-focused cyber product
Wholesaler’s product aims to address common frustrations in the SME market including confusing policy language and inadequate limits
Escalating geopolitical tensions drive demand for cyber cover
Growing recognition among organisations that cyber incidents are increasingly originating from nation state actors, survey finds
AWS outage insured losses between $38m and $581m: CyberCube
Preliminary estimate suggests only a moderate loss ratio impact for cyber insurers from the Amazon Web Services outage, despite disruption to thousands of organisations worldwide
AWS cloud outage already driving demand for cover
Cyber insurance expected to face losses from Amazon Web Services outage, according to Parametrix’s chief commercial officer
JLR cyber attack to cost £1.9bn
The attack affected more than 5,000 organisations and was given a category three rating by the UK's Cyber Monitoring Centre
Supply chain cyber attacks a growing threat, Microsoft warns
Threat actors are increasingly targeting trusted relationships with technology providers to compromise businesses
Canopius names Walker UK head of cyber and technology
Camilla Walker was the re/insurer's deputy head of cyber
Cyber insurance market wrestles with AI risk challenge
Opinion is divided on how best to respond to the potential exposures caused by artificial intelligence. Some see no reason for the segment to exclude new exposures, but others believe AI will require its own line of insurance
Insurers must help businesses prepare for the growing cyber threat
The head of the UK’s National Cyber Security Centre says it is time for businesses to act – and insurers have a vital role to play
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