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.
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
Are your cyber clients underinsured?
Cyber insureds are likely to need higher limits than their existing policies provide
Plugging the gap in cyber attack coverage
Physical property damage from cyber attacks is an underestimated risk in the age of automation and digitalisation
Blenheim Partnership launches cyber unit
Geoff Pryor-White joins White Bear-owned managing general agent
QBE warns of ‘urgent’ need to moderate exposure to cloud computing
Speed of adoption of cloud technologies is increasing exposure to cloud outage risks and cyber attacks
Firms underprepared for cyber risk
WTW survey finds many corporates do not test incident plans or consider third-party risk enough
Wide demand for generative AI insurance, Geneva Association survey finds
But insurance association’s survey finds insurers may struggle to underwrite risks associated with generative AI
Zurich calls for national cyber security indices
National-level cyber security metrics would support the development of cyber defences and reduce the cyber protection gap, paper argues
One in four businesses not managing AI risk: Moody’s
Many businesses have no policies in place restricting the use of internal data with public AI tools, survey finds
CyberCube raises $180m from new investor
Spectrum Equity will join existing investors ForgePoint Capital, Hudson Structured Capital Management and MTech Capital, as a cornerstone institutional investor
How insurers are grappling with silent AI
Brokers are pushing for affirmative cover for artificial intelligence-related risks, while some insurers are seeking broad exclusions, DAC Beachcroft’s Jonathan Hopkins says
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