October 20, 2021
Lockton, the privately-owned independent insurance broker, has launched its Silent Cyber Property Solution, a standalone policy that covers businesses against property damage and ensuing time element losses resulting from cyber-attacks or cyber terrorism. The broad-form policy is unique in the …
October 12, 2021
The U.S. property insurance market is accumulating cyber exposures that could result in $12.5 billion in non-physical damage losses and cause capital adequacy ratios for some carriers to deteriorate. A study conducted by CyberCube, AM Best and Aon found that …
August 12, 2020
This summer marks three years since the NotPetya malware attack, which has been called the most devastating cyber attack in history. While cyber experts say cybersecurity and prevention strategies have since evolved in many ways, they also warn another crippling …
July 6, 2020
Canopius, the London-based specialty re/insurer, announced the launch of a set of cyber property products for medium-to-large corporations across all sectors across the globe. In light of the ever-evolving cyber threat, the Canopius Cyber Property Damage Product Range (PDPR) will …
March 25, 2020
Reinsurance broker Guy Carpenter & Co. has entered into a strategic relationship with RiskGenius to expand the detection and qualitative analysis of silent cyber exposure across various lines of business. RiskGenius utilizes artificial intelligence to evaluate a variety of emerging …
October 30, 2019
A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from Lloyd’s of London. These losses could occur …
October 22, 2019
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 …
September 12, 2019
Kovrr, a Tel Aviv-based predictive cyber risk modeling company, announced a $5.5 Million financing round. The funding round was led by StageOne Ventures, Mundi Ventures and Innocells (the corporate venture arm and digital innovation hub of Banco Sabadell), and other …
June 6, 2019
Two new London Market model clauses to help underwriters manage cyber losses have been published by the International Underwriting Association (IUA). The wordings have been developed in order to address issues of non-affirmative or “silent” cover, where traditional insurance policies …
January 15, 2019
Cyber insurance is trending upward, the industry is growing, and the technology around it is evolving at a very quick pace. While predictions are always hard to make, here are five trends that are likely to catapult the cyber insurance …