The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings analysis. For standalone cyber coverage, the direct incurred …
Insurtechs and insurance companies are “breaking down the wall” that stood between them as competitors in favor of working together to tackle dynamic cyber risk. “We’re all trying to solve the same problem,” said Lori Bailey, chief insurance officer at …
Cyber insurance is experiencing a capacity crunch right now, and although that is expected to continue through at least the end of the year, it’s not all bad news, according to Brittany Baker, senior director of technical sales at CyberCube, …
Catastrophe modeler RMS has made updates to its cyber offerings to target emerging cyber risks. Among the updates is the new Cyber Solutions Version 5.0 application that allows users to price and select cyber risks without large amounts of historical …
Specialty insurer AXIS Insurance announced the hiring of three experienced underwriters to its U.S. Cyber and Technology team. Peter Smith will join AXIS as underwriting manager, while and Emma Werth and Jessica Currier will join as senior underwriters. Smith will …
Boston-based Corvus Insurance, an artificial intelligence (AI)-driven insurtech company offering Smart Commercial Insurance policies, has opened an office in Dallas and hired Greg Wagner as vice president of Cyber Underwriting, based in the Dallas office. Wagner joins Corvus with 12 …
Chubb announced the appointment of Raheila Nazir as cyber underwriting manager for the UK and Ireland. In this role, Nazir will have responsibility for the leadership and direction of Chubb’s UK&I Cyber Underwriting team, in addition to managing product development …
XL Catlin and RedSeal have partnered on a new approach to cyber insurance using an objective measurement of a network’s resilience to help underwriters evaluate their clients’ risks over time and help clients continue to improve their cybersecurity and potentially …
Zurich North America has hired Yosha DeLong as vice president of cyber underwriting, a role that expands Zurich’s cyber resources as the cyber exposures continue to evolve beyond data security. DeLong will lead the continued development of the company’s cyber …
The recent ransomware attacks in more than 150 countries are likely to increase demand for related insurance protection as they reveal the widening scope of corporations’ cyber risk exposures. But Fitch Ratings says insurers should take a cautious approach to …
