affirmative cyber insurance News

NY’s Cyber Guidance Could Boost Risk Management for Insurers, Insureds Across U.S.

The Cyber Insurance Risk Framework, launched recently by the New York State Department of Financial Services, is a positive step for both insurers and insureds because it calls on insurers to consider more explicitly how they measure their cyber risk …

Hamilton’s Pembroke Managing Agency Forms Cyber Team, Launches Cyber Product

Hamilton Insurance Group Ltd. announced the launch of a new team of underwriters at the recently acquired Pembroke Managing Agency Ltd. and the development of a new cyber product. Pembroke’s four-person cyber team is led by divisional director Jacqueline Spencer-Sim. …

Cyber Attack on Asia-Pacific Ports Could Cost $110B, Hitting Global Supply Chains

A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from Lloyd’s of London. These losses could occur …

Reinsurers Look at Cyber’s Massive Growth Possibilities-With Caution

Reinsurers are aware they must constantly invent new solutions in order to stay relevant for their clients. Yet, they admit they are sometimes challenged to close the protection gap for new and emerging risks such as cyber. Cyber is actually …

Beazley Launches Affirmative Marine Cyber Cover

Specialist insurer Beazley has created a marine cyber insurance product to meet the rapidly developing needs of vessel owners and operators. Should a cyber incident impact a vessel’s operational capabilities, “Beazley Cyber Defence for Marine” provides insurance for physical damage …