cyber insurance News

Beazley Creates Cyber Risk Management Company

Beazley, the London-based specialty insurer, announced the creation of an integrated cyber risk management company, Beazley Security, formed from the merger of its in-house Cyber Services team and its wholly owned cyber security company, Lodestone. Beazley Security will be led …

Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best

Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. For reinsurers, a relatively stable economic environment in 2023, a long run of …

Markets/Coverages: WTW Launches Primary Cyber, Tech E&O Facility for Int’l Clients

Insurance broker WTW has launched a cyber solution aimed at international clients headquartered outside of Great Britain and the United States with revenues up to US$1 billion (or the equivalent currency). The International CyCore Facility (ICF) is a tailored solution …

Markets/Coverages: Descartes Launches 1st Parametric Cyber Shutdown Cover in France

Descartes Insurance, the risk-carrying insurer formed in 2022 by climate-risk managing general agent Descartes Underwriting, has launched the first parametric cyber insurance for corporate clients in France. Described as the first insurance of its kind offered anywhere in the world, …

Cyberattack Hits Georgia County Where Trump Is Charged

A cyberattack disrupted the court systems in Fulton County, Georgia, where former President Donald Trump faces a criminal case for allegedly interfering with the 2020 election results. Officials earlier this week were working to restore normal operations after the attack …

Markets/Coverages: Insurtech BOXX Partners With AXA to Offer Cyber Risk Mitigation for Small Businesses

BOXX Insurance, the Toronto-based cyber insurtech and managing general agent, has announced the launch of a cyber risk mitigation solution in collaboration with AXA, aimed at providing crucial support to small businesses. Recognizing the critical need for comprehensive protection against …

Majority of Underwriters Predict Cyber Risks Grow ‘Greatly’ in 2024: Survey

Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters surveyed believe cyber risk will increase in …

Markets/Coverages: Aspen Partners With Surefire Cyber to Offer Cyber Risk Services

Aspen Insurance Holdings Ltd. has partnered with Surefire Cyber to launch Aspen Cyber Risk Services (ACRS), a complimentary suite of services that will enable its primary cyber insureds to proactively tackle cybersecurity threats, from pre-incident to response and resilience. This …

Viewpoint: Scoring Cyber Insurance Predictions of 2023

Twelve months ago in a rush of blood to the head, I wrote this article with a selection of cyber insurance themes I thought were pertinent for 2023. In the spirit of transparency, I thought I should mark my own …

Top Insurance Journal Cyber Stories of 2023

Data breaches, lawsuits, and ongoing conversations about cyber war exclusions gave Insurance Journal readers much to talk about regarding cyber insurance in 2023. While news of cyber acquisitions, the major themes to look out for in the coming year, and …