cyber insurance News

Insurers Can Protect Ratings with Cautious Approach to Cyber Risk: Fitch

The influence of cyber risk on insurer ratings is likely to be neutral or gradual as long as insurers continue take a cautious approach to the business, according to Fitch Ratings. At its recent cyber conference in New York, Fitch …

Travelers Comfortable with Its ‘Prudent’ Cyber Insurance Position

Travelers Cos. Inc. plans to stick to its recent growth pace for sales of cyber insurance, which protects businesses against hacking and other liabilities, despite potential to boost it, as the insurer assesses risks in the segment, its head of …

Worried About Hackers, States Turn to Cyber Insurance

As the threat from hackers and cybercriminals intensifies, a growing number of states are buying cyber insurance to protect themselves — and taxpayers. “It’s expensive. It’s a big budget item for us. But it’s absolutely worth it,” said Michael Hussey, …

QBE North America Forms Alliance with MGA Professional Risk Facilities

QBE North America, an operating division of QBE Insurance Group Ltd., announced a strategic program underwriting alliance with managing general agent Professional Risk Facilities (PRF), designed to offer coverage for miscellaneous errors & omissions (E&O) cover, media liability, tech E&O …

AIG Expanding Commercial Casualty Policies to Include Cyber Coverage

American International Group Inc. said it would include cyber coverage to its commercial casualty insurance during the first quarter of 2018, a move that would boost rates but make it clearer how customers are covered if they are the victim …

XL Catlin Taps Allianz’ Broodryk as Cyber Product Leader, APAC Financial Lines

XL Catlin’s insurance operations announced the appointment of Max Broodryk as product leader of Cyber Risk, International Financial Lines for Asia Pacific, based in Sydney. In this role, Broodryk will be responsible for underwriting management and development of the Cyber …

Brit Global Specialty Adds Nationwide’s Mocio to U.S. Cyber Team

Brit Global Specialty has appointed Courtney Mocio as vice president, Cyber & Technology. In this role, Mocio will be responsible for helping to grow Brit’s cyber and technology portfolio in the U.S. Mocio brings a track record of underwriting network …

Marsh Taps Saunders from UK National Crime Agency as Cyber Risk Consultant

Marsh announced the appointment of Dr. Jamie Saunders as a strategic adviser on cyber risk management within its UK specialist cyber security and risk team, part of the firm’s Client Advisory Services division. Saunders will be based in London. One …

More Clients Want Cyber Cover with BI, Supply Chain Protection: Beazley, Munich Re

Beazley and Munich Re, through their Vector partnership, have reported strong demand for “holistic cover” to protect against cyber attacks and resulting business interruption and supply chain risks. Vector was established in 2015 to offer tailor-made expertise and capacity for …

Cyber Was Focus of California Symposium for Small and Mid-Sized Businesses

There are more than 4,000 cyber-attacks each year aimed at small- to mid-sized businesses, many of which are exposed because they haven’t given cyber security a high enough priority, according to Stephanie Christensen, who heads up cyber and intellectual property …