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Cyber

Cyber remains a major opportunity for global specialty re/insurers with premiums rocketing in recent years. Awareness of the risks posed by cyber is also rising, with companies taking action to ensure ‘silent’ cyber is not present within business written across several other classes of business. While several re/insurers are actively growing their position in the cyber market, this class has yet to be tested by a major catastrophic loss event. Understanding the risk potential of cyber exposures is vital as the market continues to grow.

Cyber

Beazley and Chubb top cyber market share

Cyber insurance direct premiums written reached nearly $9bn last year, with more than half emanating from the US market, as analyst warns market’s ‘explosive’ growth is unsustainable

Cyber International

The blockchain revolution

The growth of blockchain and cryptocurrency has implications for claims against professionals and their insurers 

Legal focus Claims Management

Global commercial rates rise 11% in Q1 2022

Cyber rates continued to climb sharply, while on a geographical basis the UK led rate increases

Property Renewals

Aon warns of ‘great shift’ on cyber insurability

Insureds have to jump through ever-higher hoops to secure cyber insurance, with coverage not available at all for less-than-excellent risks

Cyber

Businesses warned of Russia-Ukraine conflict cyber threats

Cyber extortion and the growth of ransomware attacks are seen as a leading concern for businesses  

Cyber Ukraine War

Vantage Group enters US cyber market

Bermudian start-up hires Andrew Lea from CNA Financial to lead new line

North America Cyber

Global directors concern over cyber attacks grows

Cyber extortion and the growth of ransomware attacks a leading concern, survey of company directors finds

International Willis Towers Watson

Tokio Marine HCC names Ingerslev cyber SVP

Former Hartford executive joins to lead company’s US cyber team

United States People moves

Bermuda raises alarm on ‘silent cyber’ exposures

Insurers on the island will need to conduct cyber stress scenarios, the BMA said

Bermuda Cyber

Cyber resilience improving, claims Corvus

Survey shows progress with larger companies but smaller ones still catching up

North America United States

Munich Re adds war exclusions to cyber policy wordings

Reinsurer confirms that wordings need to be clearer amid concerns over Russian cyber attacks

International Munich Re

US commercial rates starting to normalise

But WTW warns of continued spike in cyber rates, bringing headaches for commercial buyers

United States Willis Towers Watson
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