Cyber risk analytics firm CyberCube in a report said the cyber insurance market continues to underserve small businesses although these businesses represent a significant share of the global economic output. “This protection gap presents both an opportunity and a responsibility …
As cyber insurance rates have begun to stabilize, insurance carriers are seeking more diversification to fuel their underwriting and growth strategies, according to panelists at this year’s PLUS Cyber Symposium in New York City. “They’re seeking diversification in the standard …
While the insurance industry is quickly adopting AI technologies to improve the speed and accuracy of routine functions, analyze data and assess risk, malicious actors use the same tech to disrupt business and profit from cyberattacks. Recognizing the potential exposure …
For the first time, a cyber-catastrophe bond has made its way into public debt markets. Long Walk Reinsurance Ltd. issued a $75 million so-called cat bond, sponsored by AXIS Capital, to insure against “a cyber-catastrophe event” across its main underwriting …
The rise of cyber risk accumulation events has highlighted the need for cyber insurers and reinsurers to understand single points of failure (SPoFs) within their customers’ digital supply chains, according to a new report published by the International Underwriting Association …
CyberCube announced $50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value (Morgan Stanley), with continued participation from all existing investors Forgepoint Capital, Hudson Structured Capital Management (Bermuda) Ltd., MTech Capital, and key investors from …
AXIS Launches Streamlined Cyber and Liability Policy for Small and Mid-Sized Businesses AXIS Capital Holdings Limited said it launched an insurance policy that offers custom-built cyber and specialist liability coverage for companies with up to $2 billion in revenue. The …
Cyber insurance is experiencing a capacity crunch right now, and although that is expected to continue through at least the end of the year, it’s not all bad news, according to Brittany Baker, senior director of technical sales at CyberCube, …
Since the start of the war in Ukraine, the number of cyber incidents in the U.S. has increased, and underwriters will need to adapt, according to a panel of experts at the PLUS Cyber Symposium. “There’s no doubt that attacks …
Cyber risk and analytics firm CyberCube said it has seen cyber attacks on Ukrainian government services, infrastructure, and other industries and it urges the insurance industry to reevaluate exposures. Russia’s invasion of Ukraine “will undoubtedly push the boundaries of acceptable …
