In what may be one of the first court filings of its kind, insurer Travelers is asking a district court for a ruling to rescind a policy because the insured allegedly misrepresented its use of multifactor authentication (MFA) – a …
Probitas 1492, the Lloyd’s insurer, has started underwriting cyber insurance with Richard Taylor, head of Cyber & Technology, focusing the book of business on complex small-and-medium-sized enterprises (SME), up to large single risks. “We have spent the past couple of …
Alexandra Bretschneider said it feels like she has been a part-time grim reaper the last two years. The cyber practice leader at broker Johnson, Kendall & Johnson said, “I am just constantly delivering bad news.” Providing a perspective of the …
The hard market for cyber insurance, which is expected to continue for “some time,” and a lack of capacity has made captive insurers an “attractive risk management option for corporations,” said AM Best in a recent market report. As part …
NJM Offers ProPack Commercial Package Policy in More Mid-Atlantic States NJM Insurance Group is now writing commercial package policies in Delaware, Maryland and Pennsylvania with policy effective dates beginning August 1, 2022. The company began offering the product to New …
A mid-year update on the commercial property/casualty market from USI Insurance Services is the latest to report rate stabilization in most lines of business – except for cyber. The cyber insurance market “continued to correct” during the first half 2022, …
According to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index, capacity for cyber insurance may be decreasing while demand is increasing, which could have driven cyber premium price increases of an average 27.5% during the first …
Nearly three quarters of global cyber-risk decision markers recently surveyed said their company experienced at least one cyberattack in the past year and while these attacks have spurred more investment in cyber-risk mitigation efforts, just 3% rated their company’s cyber …
Insurance broker WTW has launched specialist cyber coverage for ports and terminals, called CyNav. Designed to address the specific cyber threats faced by port and terminal owners and operators, CyNav provides both flexible and tailored cover for business interruption losses …
Hub Launches Nonprofit Specialty Practice Insurance broker Hub International, with decades of experience in the sector, has launched a nonprofit specialty practice to serve the risk management, insurance and human capital needs of associations, arts and cultural entities, foundations, public …
