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, 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 …
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 …
Coalition, the San Francisco-based cyber insurance and security company, announced it will enter the excess cyber insurance market in Canada to help protect businesses with enhanced coverage. With the coverage, Coalition will provide free access to Coalition’s cyber-security capabilities, including …
Reinsurance broker Acrisure Re has launched a London-based cyber division in partnership with cyber risk modeler Kovrr. Headed by Cyber Practice Leader Tom Quy, the new division will offer the market a fresh perspective on cyber reinsurance “by coupling the …
The most popular password in 2020 was exposed almost 24 million times and took less than a second to crack. While a shocking statistic, when you learn that the most popular password of 2020 was “123456,” this news becomes somewhat …
The Cyber Insurance Risk Framework, launched recently by the New York State Department of Financial Services, is a positive step for both insurers and insureds because it calls on insurers to consider more explicitly how they measure their cyber risk …
CFC, a specialist managing general agent, announced it has acquired Insane Technologies, an Australian cyber security and incident response provider. Financial details of the transaction were not disclosed. The deal is subject to approval by the Australian Foreign Investment Board. …
AXIS Insurance, the specialty insurance business segment of Bermuda-based AXIS Capital Holdings Ltd., has formed a strategic partnership with cyber security company Elpha Secure. Cyber insurance and software protection will be offered to small businesses globally to help improve their …
