The Source for Cyber Insurance News, Insights and Data
Mark Sauter “New Jersey Superior Court Judge Thomas J. Walsh ruled Jan. 13 that Merck’s insurers can’t claim the war exclusion because its language is meant to apply to armed conflict. The ruling noted that insurers didn’t change the war language to put companies like Merck “on notice” that cyberattacks wouldn’t be covered, despite a trend of attacks … Read more
The start up’s website promises: “Get covered within 5 minutes.” “Baobab’s financing round was led by Project A Ventures with involvement from La Famiglia, Discovery Ventures and angel investors including Clark, Comtravo, Gabi, Hellas Direct, Bit Capital & Ioniq and Lendable, EU-Startups reported. The new cash will be used to add employees including insurance professionals … Read more
“(A) ransomware/breach prevention or recovery warranty can at least help companies ‘reduce their premiums,’ or even become eligible for coverage…” Source: Ransomware warranties offer user community another form of cyber insurance
Growth capital provider BGF put in $4.4 million… “The company said it has achieved a 1000% growth on annual recurring revenue since June 2020 and developed partnerships with high-profile insurers and brokers, such as Beazley, Howden, Paragon and Alliant.” Source: UK Cyber Insurtech KYND Receives £3.25 Million Investment from BGF
Keep an eye on the role of Managing General Agents/MGAs (brokers with underwriting authority from carriers), says @CyberDanBurke. “Greater adoption of MGA capacity and the willingness of traditional cyber insurance carriers to write insurance above these MGAs in a cyber insurance tower will be an area to watch throughout 2022.” Includes commentary from Woodruff expert … Read more