CyberCube, an insurtech focused on cyber risk analytics, is calling on the insurance industry to set global cyber-security standards as the world digitizes. “Internet-connected technologies is a prime opportunity for the insurance sector to be at the forefront of understanding …
Cyber incidents rank for the first time as the most important business risk globally, pushing the perennial top peril, business interruption (BI), into second place, according to the ninth Allianz Risk Barometer 2020. Cyber incidents were named by 39% of …
Climate change and cyber warfare risks are two key London market issues highlighted by the International Underwriting Association (IUA) in its business plan for 2020. The association said it is establishing a new market group to examine the growing impact …
Providing an annual update of its study of the impact of catastrophic events on global GDP, researchers from the University of Cambridge find that roughly $584 billion could be wiped from the global economy from such events in 2020. According …
Ransomware attacks increased by 37% during the third quarter of 2019, compared to Q2, as cyber criminals target both IT vendors and their clients, according to data compiled by insurer Beazley. One-quarter (24%) of all ransomware incidents reported to Beazley …
Reinsurers are aware they must constantly invent new solutions in order to stay relevant for their clients. Yet, they admit they are sometimes challenged to close the protection gap for new and emerging risks such as cyber. Cyber is actually …
Cyber-attacks are named as the leading risk for business executives in the United States, Canada and Europe, according to a survey of business leaders published by the World Economic Forum, in partnership with Zurich Insurance Group and Marsh & McLennan …
H.W. Kaufman Group, the Farmington Hills, Mich.-based wholesale broker and managing general agent, announced the acquisition of Node International, a U.K. managing general agent that specializes in cyber risk and technology-related insurance solutions. Financial details of the transaction were not …
AXA XL and Accenture are partnering to offer global cyber-security expertise to AXA XL’s underwriters, brokers and clients to strengthen their cyber capabilities and recover from cyber attacks. AXA XL — AXA’s property & casualty (P&C) and specialty risk division …
There are several things that keep SCOR’s Jean-Paul Conoscente awake at night. Climate change is one of them; cyber risk is another. Only time will tell whether these risks are actually insurable, cautions Conoscente, who became the CEO of SCOR …
