cyber insurance News

To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers

While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in the 30s or …

Generali Launches Cyber Insurance Function and Cyber Security Subsidiary

Generali has launched a new Cyber Insurance function and the formation of a cyber security company. The Cyber Insurance function will combine a range of cyber insurance solutions with the support of a technology start-up, CyberSecurTech, which is wholly owned …

Driverless Ships Could Offer Significant Growth Area for London Market: IUA Survey

Autonomous ships could offer significant growth potential for the London market, according to the findings of a survey conducted by the International Underwriting Association (IUA). Indeed, 25 percent of IUA members who responded to the survey stated they are considering …

Israeli Risk Modeling Firm Kovrr Launches Silent Cyber Risk Identification Product

KOVRR, a provider of predictive modeling for cyber insurance, announced a silent and affirmative cyber risk product. The new product enables insurance and reinsurance carriers to identify uncalculated capital at risk and quantify policy clauses that may leave them liable …

Cyber Reinsurers Aim to Master the Dangers of Global Accumulation

Cyber insurance is a market with enormous growth potential – but one that also has the potential to become a costly, worldwide event in a matter of seconds. Unlike natural catastrophes, cyber isn’t limited to geographic regions. It’s a risk …

New Cyber Insurance Package Protects Hedge Funds’ Trade Secrets and Fees

Hedge funds can spend years crafting a trading algorithm or a strategy to keep ahead of competitors. A Stone Point Capital-backed insurance broker is offering to help protect those trade secrets, and their fees, from a cyber attack. Alliant Insurance …

MGA Ascent Underwriting Appoints Stops from Brit as Head of Cyber

Ascent Underwriting, the London-based cyber and specialty lines managing general agent (MGA), has appointed Caspar Stops as head of cyber. Stops, who will take up the role at the end of November, joins from Brit Ltd. where he held the …

AXIS Specialty UK Offers GCHQ-Certified Training at Cyber Center of Excellence

AXIS Specialty UK Holdings Ltd. announced it has been certified as a GCHQ Certified Training provider for its course “Understanding Cybersecurity and Insurance.” The training is offered through the AXIS Cyber Center of Excellence, a global resource that provides mentorship, …

Everest Insurance Adds 3 Members to Cyber Practice

Everest Insurance has expanded its Everest Specialty Underwriters (ESU) Financial Lines group with the addition of three cyber liability team members. This team, led by Vice President and Cyber Practice Leader Kevin Sherry, is focused on providing cyber liability coverage …

Aon Creates $350M of Cyber Capacity, Launches New Solution for Silent Cyber

Aon plc is continuing its investment in cyber by creating US$350 million of new reinsurance capacity and launching its silent cyber* solution. Aon’s silent cyber solution is designed to partner with carriers in their journey to identify, quantify and mitigate …