Tag: Cyber Insurance

September 30, 2021

In a recent report, S&P Global Ratings says the demand for cyber coverage has increased significantly since before COVID-19 and that a stronger partnership between insurers and reinsurers could help strengthen coverage, give greater balance sheet protection against frequent, high-severity […]

September 13, 2021

Insurers that offer coverage for cyberattacks find themselves playing both offense and defense lately. As they await possible action by Congress to enact federal cybersecurity legislation, the insurance industry has gone on the offensive, applying pressure to policyholders to adopt […]

August 30, 2021

Anyone who works in cyber insurance knows that the industry is never static. It’s a constantly evolving business as the risks change all the time, and this has never been more apparent than right now, said panelists for Insurance Journal’s […]

August 25, 2021

ELEMENT, the Berlin-based insurtech, announced a partnership with managing general agent, Parametrix Insurance, launching parametric cloud outage insurance for companies in Germany. The product is designed to cover financial losses due to downtime of third-party IT and cloud infrastructure providers. […]

July 30, 2021

At-Bay pulled in a whopping $185 million in new financing that the cyber insurance startup plans to use for new product development, expansion into new markets and hiring more employees. Including the new round, the managing general underwriter said it […]

June 22, 2021

Recent attacks on the Colonial Pipeline and on the meat processor JCS have highlighted the ongoing threat of cyber attacks to national infrastructure and the global supply chain, and shown that there is an urgent need for the cyber market […]

June 9, 2021

A new AM Best report has argued that prospects for the US cyber insurance market are “grim,” due to the significantly worsening risk hazard environment and issues such as ransomware, business interruption and aggregation. Analysts noted that cyber insurance, which […]

April 12, 2021

Underwriting of cyber insurance and reinsurance risks is going to require “massive amounts of additional capital” to support what is expected to be a particularly fast-growing class of business, according to broker Gallagher Re’s Ian Newman. Newman, who is the […]

March 17, 2021

San Francisco-based Coalition Inc., which provides cyber liability insurance and security, said Wednesday it has received an additional $175 million capital infusion with which it plans to invest in the company, add new product lines and further expand internationally. It […]

March 10, 2021

The evolution of the cyber reinsurance sector has seen a significant shift in market structure to something much more palatable for providers of insurance-linked securities (ILS) capacity, according to Ari Chatterjee, Chief Underwriting Officer (CUO) at Envelop Risk. Prior to […]

January 20, 2021

Advancements in artificial intelligence are in many ways a double-edged sword for the cyber insurance industry. Increasingly diverse and sophisticated cyber attacks have dramatically increased the demand for cyber coverage, offering a lucrative opportunity for insurers to capitalize upon. However, […]