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 …
Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with reinsurance broker Capsicum Re to enhance the insurance industry’s modeling of what many refer to as “silent” cyber incidents. As part of the collaboration, the two firms will identify …
Aon plc has promoted Catherine Mulligan and Luke Foord-Kelcey within its Reinsurance Solutions business to strengthen its suite of cyber products for insurers. As global head of Cyber for Aon’s Reinsurance Solutions business, Mulligan will be responsible for setting strategy, …
The International Underwriting Association of London (IUA), representing carriers operating in or through London, has formed a group on cyber underwriting specifically for reinsurers. The organization said the move follows a growing interest amongst reinsurance practitioners in the activities of …
Carriers say that cyber insurance is quite profitable for them at the moment, and a majority are also using reinsurance to manage their exposures, PwC found in a global survey of specialist writers. The consulting firm’s survey found that 80 …
Pool Re announced it has renewed its retro program and extended the cover to include material damage and direct business interruption (BI) caused by acts of terrorism “using remote digital interference.” The renewed cover, brokered by Guy Carpenter, has been …
JLT Re, the global reinsurance broker and consultant, has appointed Ben Gray as a partner in JLT Re’s London & International Markets (LIM) team with a focus on cyber treaty. Gray joins from UK-based broker Ed where he was a …
Britain’s 6 billion pounds ($7.3 billion) terrorism reinsurance fund hopes to extend its cover to include cyber attacks on property, chief executive Julian Enoizi said. Pool Re, set up in 1993, acts as a backstop to insurers paying out claims …
Despite the rising profile of cyber risks, buyers have failed to widely embrace cyber coverage. At the same time, insurers generally have remained cautious about writing the coverage on a large scale basis. A recent report published by accounting and …
