cyber reinsurance News

Cyber MGA Coalition and BDT Capital Partners Launch Bermuda Reinsurer Ferian Re

Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an …

People Moves: Everest Re Taps Nationwide’s Rudow as Head of Cyber Reinsurance; BMS Re Names McDowell as Bermuda CEO, Binetti as Head of Casualty Treaty

This edition of International People Moves details appointments at Everest Reinsurance and BMS Re. A summary of these new hires follows here. Everest Re Taps Nationwide’s Rudow as Global Head of Cyber Reinsurance Everest Reinsurance, the reinsurance division of Everest …

ILS Investors Could Help Fill Cyber Re/Insurance Protection Gap if Hurdles Are Overcome

The cyber re/insurance protection gap provides an opportunity for insurance-linked securities (ILS) investors, which historically have filled the gaps where traditional capital has either retrenched or is unavailable, according to a report published by S&P Global Ratings. “The demand for …

Regional Cyber Conflicts Could Lead to Infrastructure Attacks in 2022: CyberCube

Three regional cyber conflicts could lead to infrastructure attacks and damaging cyber espionage in 2022, a new report from cyber analytics company CyberCube says. The current cyber landscape, cyber hostilities between Israel and Iran, India and Pakistan, and China and …

People Moves: WTW Names Aon’s Wegbrans as Head of Broking; EmergIn Risk Hires Occam’s Paraskeva; Aon’s Norris to Gallagher Re as Cyber ILS Broker

This edition of International People Moves details appointments at Willis Towers Watson; Ryan Specialty’s MGU, EmergIn Risk; and Gallagher Re. A summary of these new hires follows here. WTW Names Aon’s Wegbrans as Global Head of Broking Insurance broker Willis …

Re/Insurance Cyber Rates Could Double Before 2023, as Attacks Skyrocket: S&P

The pandemic caused economic and insured losses from cyber attacks to skyrocket, which has heightened awareness of the risk and increased demand for cyber re/insurance, according to a report published by S&P Global Ratings. “The trend toward digitalization will inevitably …

HSB Canada Introduces Cyber Coverage for Small Businesses

HSB Canada, part of Munich Re, has introduced HSB Cyber Suite, a comprehensive collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity theft, and cyber extortion. HSB Cyber Suite is a …

People Moves: AXA XL’s Harth to Liberty Specialty in Germany; Amwins Global Hires Ed Broking’s Keenan for Construction & Engineering; Marsh’s Tigleanu to Lockton Re Cyber

This edition of International People Moves details appointments at Liberty Specialty Markets, Amwins Global Risks and Lockton Re. A summary of these new hires follows here. Liberty Specialty Markets Appoints AXA XL’s Harth as Germany’s Country Manager Liberty Specialty Markets …

Cyber Re/Insurance MGA, Envelop Risk, Announces $130 Million Series B Financing

Envelop Risk, the UK-based cyber re/insurance managing general agent, announced a Series B investment of $130 million, led by SoftBank Vision Fund 2. The financing will facilitate Envelop Risk’s plans to expand its proprietary machine-learning and data-driven underwriting activity in …

Writing Cyber Is Key to Survival, Munich Re Exec Says

Trumpeting a message that he conceded might be different from peers, Stefan Golling, a member of Munich Re Board of Management, said that Munich Re remains bullish on the cyber insurance and reinsurance markets. In fact, “if insurers and reinsurers …