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.
Europe’s cyber insurance market is growing fast
There is increasing recognition cyber coverage is key to economic success
Marsh launches Cyber Echo Encore facility
Broker adds London company market capacity to enhance its original Lloyd’s-backed Cyber Echo facility
Cyber underwriters continue to grapple with systemic risk
Systemic exposure is growing, driven by business interruption coverage included in every policy
Small businesses hold the majority of cyber limit: AM Best
Study shows systemic risk of cyber insurance skewed towards small business exposures
Beazley CEO cautions over ‘unstable equilibrium’ as prices soften and risks rise
Specialist carrier reports record full-year profit in 2024 and estimates wildfire losses at $80m
MS&AD invests $30m in US cyber insurer Coalition
Funding agreement builds on companies' existing partnership, which includes a multi-year capacity agreement in Australia
The UK must adopt a more joined-up approach to tackling APP fraud
Rising levels of authorised push payment fraud are a cause for concern – a culture of collaboration is needed across all the sectors involved in the fight against cyber crime
Resilience introduces London wholesale market facility to US clients
New initiative aims to underwrite US-based risks for businesses with revenues up to $10bn through the London market
New cyber categorisation could be a game-changer
New system could overhaul how the insurance industry manages cyber systemic risk, giving both insurers and insureds more confidence in the coverage
Lockton Re calls for government-backed cyber pool
Backstop would encourage new capacity into the cyber market, broker argues
Cyber Monitoring Centre launches categorisation system
The independent body would have classed CrowdStrike as a category 3 event because it lacked the impact to be truly systemic
Global commercial insurance rates drop 2% in Q4: Marsh
Global commercial insurance rates fell for the second consecutive quarter in the final three months of 2024, as competitive market conditions drove price declines across major sectors
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