cyber News

AGCS Promotes Virji to Lead UK Cyber Team; Yu from Principia Named Senior U/W

Allianz Global Corporate & Specialty (AGCS) announced that Yogesh “Yogi” Virji has been promoted to lead the UK cyber team. In addition, Hui Yu will join the UK team as a senior underwriter in the new year. These two underwriting …

Insurtech Startup Debuts with $6M and Proactive Cyber Risk Product

A California insurtech startup with a new cyber product has launched today to offer brokers and their clients what it calls “redesigned insurance, with cyber security expertise at its core.” Mountain View, Calif.-based At-Bay launched out of stealth mode along …

Nepal Bank Latest Victim in String of Global Cyber Heists

A bank in Nepal is the latest victim in a string of cyber heists, though most of the stolen funds have been recovered, two officials involved in the investigation confirmed on Tuesday. [Editor’s note: Reuters issued a clarification to say …

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 …

Canada Concerned About Cyber Attacks Targeting Critical Infrastructure: Source

The Canadian government is “really worried” about cyber attacks that have targeted critical infrastructure and has helped companies improve their defenses without disclosing hacks to the public, a senior intelligence official said on Monday. The comment by Scott Jones, an …

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 …

Experts: Forget Government, Companies Must Step up to Combat Cyber Threats

Don’t rely on the U.S. government to protect your business from cyber threats. That was the consensus among experts speaking about cyber programs at a risk management conference on Tuesday. “The U.S. government hasn’t done a lot to protect cyberspace,” …

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 …

May 2018 Deadline for EU’s Cyber Rule, GDPR, Spurs Corporate Action: Marsh

The upcoming implementation of the European Union’s General Data Protection Regulation (GDPR), which takes effect in May 2018, has elevated cyber risk to the top of the corporate agenda for organizations doing business in Europe according to a survey conducted …

UK Broker Capsicum Re Appoints Williams as Cyber Security Specialist

Capsicum Re, the London-based specialist reinsurance broker, announced the appointment of Conrad Williams as the latest addition to its cyber team. He will report to Ian Newman and Samantha Thompson, partners in Capsicum Re’s London property and specialty division, and …